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How to Replace Alternative Choice from the Real Estate Contract

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hi its tip tuesday and todays topic of discussion is contingency on finding a replacement property so what does that mean well a lot of people that currently own a home have to sell that home before they can purchase another and thats what were going to discuss today so one of the main reasons why youd want to do this is you want to sell your house and take that equity to use as a down payment on a purchase or you dont want to have two mortgages that youre paying at the same time um or you dont qualify for two mortgages at the same time so you have to sell in order to buy something and then lastly you dont want to keep the house and rent it out youd rather just sell it and buy something else right and theres a lot of fear that goes along with this we hear it quite often um and i think the biggest fear is being homeless like selling your house and then having no place to go so were going to discuss briefly on how you can accomplish that so in the california real estate purch

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What is the best offer to accept when selling a house?

As with all negotiations, when you are making an offer on a house, start low. A good rule of thumb though is to offer 5% to 10% lower than the asking price. Dont forget that sellers often take this into account and deliberately put their house on the market for more than they expect or would accept.

What is best offer for selling?

A best-offer scenario generally means the seller plans to accept the best offer, or counter only the offers it deems the strongest. Sellers do not have to respond to every offer they receive and usually dont formally reject offers in writing.

What is the best way to choose the best offer?

6 Tips for Choosing the Best Offer for Your Home Understand the process. All offers are negotiable, as your agent will tell you. Set baselines. Decide in advance what terms are most important to you. Create an offer review process. Dont take offers personally. Review every term. Be creative.

Which offer would be the most appealing to a seller?

A cash offer is usually more appealing than a finance offer as the seller doesnt need to worry about whether the bank will approve your loan, says Sam Heskel, president of Nadlan Valuation, an appraisal management company in Brooklyn, New York.

What are examples of contingencies?

A contingency is a potential occurrence of a negative event in the future, such as an economic recession, natural disaster, fraudulent activity, terrorist attack, or a pandemic. In 2020, businesses were hit with the coronavirus pandemic forcing many employees to have to work remotely.

What is meant by passive removal?

Passive contingency removal means that when the deadline passes and the party in question has not cancelled the agreement, by default they have removed their contingency. That is why it is called passive. If you do nothing, you are deemed to have removed your contingency.

What is an acceptable best offer on eBay?

What You Need to Know to Succeed with eBay Best Offer. First, price the item 20%-30% above the lowest amount youre willing to take for it. Second, as you add Best Offer, check to see if youre offering free shipping on that item. Third, be aware that buyers may find your item via Promoted Listings.

How do you write a contingency clause?

A contingency clause often states that your offer to buy property is contingent upon X,Y, Z. For example, the contingency clause may state, The buyers obligation to purchase the real property is contingent upon the property appraising for a price at or above the contract purchase price.

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