Easily Replace Dropdown in the Real Estate Contract

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How to Replace Dropdown in the Real Estate Contract

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hows it going everyone Matt Leighton Sean battle welcome back to another real estate video guys in todays video were gonna be talking about hacking the real estate contract and some tricks literally a trick some of them are deceptive that you can do to gain some advantage in the contract and things to watch out for when youre writing these contracts and someone on the other side its trying to pull a fast one on you Sean whats going on man man its good weathers great turn in looking good out there market is even hotter its insane its its not not slowing its not curtailing at all you think its hotter than like two months ago its harder than two months ago really yeah I believe it is I mean were seeing a lot more properties come on the market and were seeing just as just as many contracts coming in you know five six contracts we just had two that hit the market this past week one honestly we all right yeah one one we we did before the yeah okay hes gonna move something be

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What does option pending continue to show mean?

Pending continue to show - An offer has already been executed and passed the option period, and the seller is still willing to allow the home to be shown in hopes of back up offers. Pending - The contract has completed the option period, and buyer and seller are awaiting the closing date.

Can a seller back out of an option?

Yes, a seller can back out of a contract under certain circumstances. But you must show that youve upheld the conditions in the purchase agreement or face consequences.

What does option pending mean?

Option Pending means that the transaction is still within the Option Period. So, buyers have a chance to back out. Pending means they are out of the Option Period to back out of the Contract, It means if there are any problems the seller and the buyer have work thru them and Pending is the last stage before they close.

Does pending always mean sold?

Homes are listed as pending because even though they are under contract, they havent sold yet. Theres always a chance the sale could fall through for instance, if the buyers financing was declined.

Who is the optionee in an option contract?

An option is a right that the owner of a real property (the optionor) gives to another person (the optionee) to buy certain property at a fixed price for a definitive duration. An option is an offer that binds the optionor to sell, but does not obligate the optionee to purchase.

What is the difference between option and option pending?

The option period is the time where the buyer has the option of canceling the contract for any reason. Pending is after the option period and the sale is in escrow. It means the sale is Pending until closing.

Can you put in an offer on an option pending?

Yes, you can make an offer on a house that is in pending status.

What does optioned mean in real estate?

The basics: What is an option contract in real estate? In the simplest terms, a real-estate option contract is a uniquely designed agreement thats strictly between the seller and the buyer. In this agreement, a seller offers an option to the buyer to purchase property at a fixed price within a limited time frame.

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