Real Estate Buying and Selling

In buying or selling real estate, parties usually enter into an earnest money agreement, which sets out the price of the land, and describes the property and other conditions. The parties are legally bound to follow the conditions in the agreement.

4,330 Questions
Acronyms & Abbreviations
Real Estate
Real Estate Buying and Selling

What does SLUG mean in real estate?

Single Lock-Up Garage. For more information, you can visit the best real estate service provider gruhapravesha

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Real Estate Investing
Real Estate Buying and Selling

What does a lot 50' X 100' tranlates into acres?

50' X 100' = 5,000 sq. ft.

5,000 sq. ft. = 0.114784 acres

An acre is 43,560 square feet (sg. ft). 5,000 sq. ft. divided by 43,560 = 0.114784 acres.

A handy website for conversions is OnlineConversions.com

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Mortgages
Deeds and Ownership
Real Estate Buying and Selling

What is Inter-spousal Grant Deed?

An inter-spousal grant deed is a document that legally transfers property from one spouse to the other to. There are many ways to accomplish a property transfer, but two of the most common ways to transfer property in a divorce are through an inter spousal transfer deed or quit claim deed.

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Mortgages
Home Buying
Real Estate
Real Estate Buying and Selling
Real Estate Investing

Cost of Real Estate reconveyance fee?

We are in the process of having a recoveyance done after paying a 1 year contract on our home .....

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Home & Garden
Units of Measure
Real Estate Buying and Selling

How much is 1 lot of land?

depends were you are

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Property Law
Deeds and Ownership
Real Estate Buying and Selling

What is fee simple feasible?

Fee simple absolute is the complete and total ownership of real property. The owner in fee simple absolute has the right to full possession and control of the property and the property will pass to the owner's heirs upon death. Generally the conveyance of real estate by a deed conveys fee simple absolute. The word feasible is not part of the term.

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Real Estate
Real Estate Buying and Selling

Can A Texas Real Estate Broker take a Net Listing?

Yes, texas real estate broker can take a net listing.

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Real Estate Buying and Selling
Real Estate Investing
Real Estate Leasing

How do you get a real estate agent license in mumbai?

In India real estate license is commonly known as the property dealing license. This license is necessary in order to do property dealing in India. The terms and conditions and requirements for the license are different all across the India but basics are the same. In this article we will take in consideration the rules in Gurgaon district of Haryana regarding the property dealer's license.

First of all if a person indulged in real estate consultancy without a proper license will be fined Rs. 50, 000 and in case of a company or society the fine will be Rs. 1 lakhs.

The fee for the property dealer license is Rs. 25, 000 for the individual and for company or society the fees is Rs. 50, 000. Along with the application form the residence proof, 4 photos, thumb impression, undertaking of solvency certificate, character certificate, 2 guarantors about genuineness of the applicant, office address along with the treasury challan of the payment of prescribed fees. The validity of the license is for 5 years after which it can be renewed. The renewal fees are Rs. 5, 000 for the individual and for company or society the fees is Rs. 10, 000.

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Math and Arithmetic
Real Estate Buying and Selling
Area
Length and Distance

How many square feet equals one quarter acre?

One Acre = 43,560 sq ft \ 4 = 10,890 sq ft

102103104
Agriculture
Real Estate Buying and Selling
Area

How many acres in a quarter section of land?

One section is equal to one square mile. In one square mile, there are 640 acres, therefore in one quarter of a section of land, there are 160 acres.

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Real Estate Buying and Selling
Fraud

If a notary knowingly stamps a document without verifying signatures or named persons even present does that constitute fraud?

A notary is only required to verify the signature of the actual person signing the document for which the notarization is required. Any other names or signatures on the document does not become the notary's responsibility unless the notary is notarizing each and every signature on the document. In that particular case, then all the signatories must be present and must sign the document in the presence of the notary. Most notarized documents are designed to have only one signature for a notary to notarize.

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Liens
Deeds and Ownership
Real Estate
Real Estate Buying and Selling
Real Estate Investing

Can you transfer title deed to spouse to avoid debters placing liens on your real estate?

No you cannot. In most jurisdictions a transfer to avoid creditors is a fraudulent conveyance and can be voided by a court. You should consult with an attorney before you act.

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Real Estate
Real Estate Buying and Selling
Real Estate Investing

What does is a psa in commercial real estate?

PSA stands for Purchase and Sale Agreement in Real Estate..

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Insurance
Liability Insurance
Real Estate
Real Estate Buying and Selling
Real Estate Investing

Do you need liability insurance for real estate you inherit along with other heirs?

It really depends on the use to which you are putting the real estate. For example, if a store was operated on the land, a liability policy insuring all co-owners is recommended. However, if it is raw., unimproved land, likely not. Nonetheless, if you are aware that there are hazards on the property (such as an open well) and that people go onto the property, you may have a duty to warn. Liability insurance may be available in those circumstances.

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Real Estate Buying and Selling

What is a gore of land?

The term gore means to portions of land areas that do not conform to boundaries found in land surveys based upon imprecise measurements and other ambiguities of metes and bounds. A gore occurs where descriptions in larger administrative boundaries of adjacent jurisdictions or, large parcels, all fail to include some portion of land between them, forming an unclaimed, triangular "sliver" of land.

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Real Estate Buying and Selling

What is sure save America?

They are a company that helped me to settle my 2nd lien on my home. I had attempted to work with my bank for over a year with no resolution. They did

what I could not on my own and are very knowledgeable in the real estate industry. Excellent company, saved my home and my family a lot of money and stress.

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Real Estate
Real Estate Buying and Selling
Real Estate Investing

How do you get a real estate license in Wisconsin?

Here are the requirements you need to be a licensed real estate salesperson in Wisconsin Real Estate Salesperson - Licensing.

1) Complete required education.

A. All applicants for licensure as a salesperson must complete one of the following as proof of completion of the education requirement:

(a) a specific 72 hour salesperson course of approved educational programs from an approved school ; OR

(b) a transcript showing 10 academic semester-hour credits in real estate or real estate related law completed at an institution of higher education; OR

(c) a photocopy of current bar membership or a certificate of good standing in the Wisconsin State Bar.

B. Out of state applicants holding a salesperson's license in a state without a reciprocal agreement with Wisconsin -- Out of state applicants holding an active real estate salesperson's license in another licensing jurisdiction within the 2 year period prior to filing an application for an original real estate salesperson's license in this state must submit one of the following as proof of completion of the education requirements:

(a) 13 designated hours at a Wisconsin-approved school; OR

(b) a transcript showing 10 academic semester-hours credit in real

estate or a real estate related law course completed at an accredited

institution of higher education.

C. Out of state licensed salesperson reciprocal license option -- Out of state applicants holding an active license in a state that has a signed reciprocal agreement with Wisconsin may waive the education requirement and take the exam directly. The original license in the reciprocal state must have been issued on the basis of passing that state's required examinations. At the current time, Wisconsin has reciprocal agreements with Illinois and Indiana.

2) Pass the salesperson's examination.

The Department has contracted with PearsonVue to conduct its examination program. Examinations are administered by computer upon appointment.

3) Obtain employment from a licensed Wisconsin broker.

A salesperson must be employed by a Wisconsin licensed broker. The initial application contains a section that is to be completed by a broker if the applicant has a prospective broker-employer. If the license is issued without registering a broker-employer on the initial application, the applicant will not be able to operate as a salesperson until submitting a Notice of Real Estate Employment Form (form #812). The licensee can only be paid referral fees when not registered under a broker.

4) Application for licensure.

Receive Application for New Salesperson or Broker License (form #809) at the exam center after passing the exam. The application must be submitted within one year following the date the applicant wrote and passed the examinations. Failure to submit the application within one year of passing the examination will result in a

denial of licensure. The certificate of completion of education msut be submitted with the application. No exceptions will be made.

REINSTATEMENT OF CREDENTIAL.

Less than 5 years:

If an applicant files an application for renewal of the real estate salesperson credential less than 5 years after the expiration date, the applicant shall pay the renewal fee and late fee and provide evidence of having satisfied the continuing education requirement.

More than 5 years:

If an applicant files an application for renewal of the real estate salesperson credential more than 5 years after the expiration date, the applicant must:

1) Complete the 72 hour broker pre-licensing education course.

2) Pass the salesperson exam. Contact PearsonVue to schedule the examination.

3) Submit the Application for New Real Estate Salesperson or Broker (form #809) to the Department with proof of completion of education and reinstatement fee.

Check the FAQs to determine if a credential can be transferred from other States/Countries.Biennial renewal: Due by December 14 of even-numbered years

Common Denial Reason: Does not meet criteria above. Convictions of crimes or pending charges may be grounds for denial of license if the circumstances of the conviction or charge are substantially related to professional practice.

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Real Estate
Real Estate Buying and Selling
Real Estate Investing

What do the initials AUC stand for in Real Estate?

Initial AUC stands for Asset Under Construction in Real Estate...

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Real Estate
Real Estate Buying and Selling

What does the abbreviation Cnko stand for in real estate?

"Contingent with No Kick Out."

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Real Estate Buying and Selling
Australia

What does 'freehold' mean in Australia?

Freehold means one can possess a piece of real estate forever. This is in contrast to leasehold, which means one can own property for a fixed number of years granted by a lease.

An example of leasehold is any property in the city of Canberra, which may only bel owned by leasehold, as it is Crown Land. Other cities of Australia have mostly freehold property.

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Deeds and Ownership
Real Estate Buying and Selling

What is an undivided percentage ownership in real property?

6 owners on undivided interest we sell , is that divided between 6

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Real Estate Buying and Selling
Real Estate Investing

What does a lot 100' X 100' tranlates to in acres?

100'x100' lot is 10,000 sq feet. 1 acre = 43,560 sq feet 10,000sq ft/43,560sq ft = 0.229 acres.

636465
China and Chinese Territories
Real Estate Buying and Selling
Communism

Can people buy their own property in china?

Of course! They aren't really communists, they're just commies officially. Otherwise America wouldn't even buy their products.

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Law & Legal Issues
Foreclosure
Real Estate Buying and Selling

If you purchase a USDA foreclosure house should you get a title opinion now or wait until you refinance in two years?

You should NEVER purchase property without FIRST getting a title opinion or buying title insurance!

There could be liens that actually are larger than the amount you paid for the property. Without first having a title opinion or title insurance, this could become quite a costly venture. Further, when you refinance in two years, you will be able to get a re-issue credit on you lenders title policy because you have purchased owner's title insurance now.

A title opinion can usually be completed inside a week. The cost can vary but is usually under $1,000.00. Title insurance can be purchased in most states and the cost is often based on the value of the property. NEVER buy any real estate without one or both of these. It is a cheap way to be sure that you will not buy property and find yourself owing banks you've never heard of, or the ex-spouse of the seller for child support, or a carpenter that worked on remodeling the kitchen a year ago.

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Trinidad and Tobago
Real Estate
Real Estate Buying and Selling
Real Estate Investing

How do you become a real estate agent in Trinidad?

  • 1

    Ensure that you are a hardworking, patient and self-possessed individual. It is a good idea to have good communication and persuasion skills before you opt for this field of work. You might consider taking up a communication or personality development course to bring your skills up to speed.

  • 2

    Collect details about sanctioned real estate institutions that offer different courses by interacting with either the Professional Licensing Commission of your state or the Real Estate Association functioning in your area.

  • 3

    Enroll in small or full-fledged courses and take the written test that is necessary to evaluate your familiarity with the laws of trading real estate. You need to be at least 18 years old (some states require 21 years old) and be a high school graduate.

  • 4

    Allow the Real Estate Licensing Commission of your state to conduct a background investigation process according to law. It is necessary because of the huge amount of money and confidential information involved in the deals.

  • 5

    Search for different real estate agencies who would want to recruit agents by going online or from the yellow pages. Hopefully, you will become a part of the brokerage in no time after going through their hiring process.

  • 6

    Work with a real estate broker for at least 2 to 5 years and gain sufficient experience before setting up an individual practice. Observe and learn the tricks of the trade.

  • 7

    Procure your broker's license to practice as a broker from your state licensing authority after gaining a substantial foothold in the field.

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