Easily Replace Option Choice in the Home Seller Form

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How to Replace Option Choice in the Home Seller Form

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all right so today were gonna talk about the SP RP which is the form sellers purchase of replacement property sometimes you will go to list a home and one of the biggest fears that a seller has is that they are going to be homeless they go I dont want to sell my house and I wont have anywhere to move and my house will close and Ill be out on the streets and thats not gonna happen because you are going to protect your seller with this form so the very first thing youre gonna do is youre going to include this form via a counteroffer Im not gonna pull up the counteroffer here Im just going to say check the box for one D on the counteroffer its going to say additional addenda and then youre going to type in SP RP which then includes this as part of your counter make sure that you give yourself a few days to move out because when theyre home closes chances are this ones not gonna close till the next day or the day after so give them a few days to move out so possession to be de

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What option allows the seller to remain in the home after closing?

A rent-back agreement is a rental or lease agreement between the home buyer and seller that allows the seller to take out their home equity and continue to live in the house after the closing date in exchange for rental payments.

Can you assign an option in real estate?

AsdocHub purchase option contracts are a specific type of real estate option agreement. The asdocHub purchase option transfers and grants assignments to another party. This process is known as the contract assignment, and theyre used when one party wants to directly transfer real estate assets to the assignee.

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.

Which of the following describes the most typical motivation for a seller in a short sale situation?

Because the seller does not expect to get any proceeds from the sale, the sellers motivation is simply to sell quickly, at a price the lender will agree to, and not to sell at the top of the market.

Whats a typical reason that a seller might opt for a short sale?

In real estate, a short sale may take place when an owner sells a house at a price that is less than the outstanding mortgage amount. This typically happens when the owner is under financial stress and is behind on mortgage payments.

Whats the purpose of a short sale quizlet?

A sale of secured real property that produces less money than is owed the ender; also called short pay, in that the lender releases its mortgage or trust deed so that the property can be sold free and clear to the new purchaser.

What are the pros and cons of a short sale?

The Pros and Cons of Buying a Short Sale Short sales can take a long time. They are sold as-is. Make sure the lower price is really worth it. The good deal factor can be influenced by the market conditions. Less competition. Dont overlook needed repairs. Home inspections are a must.

Why would someone do a short sale?

A home goes into short sale when the homeowner realizes that they can no longer afford to keep up with their mortgage payments. Instead of waiting for the bank to foreclose on the home, the homeowner initiates the short sale process by submitting an application to the lender.

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Replace Option Choice in the Home Seller Form