Word of the day
A prudent developer should include in the purchase agreement for a proposed development site not only a condition that the developer obtain a building permit but that it is obtained by a stipulated deadline. Otherwise, the developer could unreasonably delay seeking the permit while keeping the seller’s property off the market.
Any owner contemplating an addition and/or change to property should first check with the appropriate county or municipal building department to avoid any building code violations, which will generally render a seller’s title unmarketable. Failure to disclose such violations may constitute a material misrepresentation, entitling the buyer to rescind the transaction and obtain the return of his or her money.
Industry, Residential Real Estate, Education
Library of Real Estate Clauses
December 16, 2018
Brokerage, Technology, Consumer News, Residential Real Estate, Education, Misc
Short Sales and Tips for Newly Licensed Real Estate Agents
December 5, 2018
Brokerage, Consumer News, Residential Real Estate, Misc
Unilateral Contract VS Bilateral Contract
November 23, 2018