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A 5 percent real estate commission on that price would come to $12,500. But in San Francisco, where the median was a considerably higher $1.37 million, a 5 percent commission would come to $68,500.
The language of real estate contracts is typically written to protect buyers. And in many cases, a home seller who reneges on a purchase contract can be sued for breach of contract.
A conditional sale is a real estate transaction where the parties have set conditions. [1] [2] A standard real estate transaction usually begins when a prospective purchaser submits an offer to purchase to the vendor of a property. As in a standard offer, a conditional offer sets out the terms of the sale such as the purchase price, the date of ...
Title insurance. Title insurance is a form of indemnity insurance predominantly found in the United States and Canada which insures against financial loss from defects in title to real property and from the invalidity or unenforceability of mortgage loans. Unlike some land registration systems in countries outside the United States, US states ...
In July 2017, Ng Lap Seng, a Macau-based Chinese billionaire real estate businessman, chairman of the Sun Kian Ip Group (新建业集团), and a member of the National Committee of the Chinese People's Political Consultative Conference (CPPCC), was convicted after a five-week trial of two counts of violating the Foreign Corrupt Practices Act ...
A real estate transfer tax, sometimes called a deed transfer tax or documentary stamp tax, is a one-time tax or fee imposed by a state or local jurisdiction upon the transfer of real property.
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