Wipe out clause in WPD

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How to wipe out clause in WPD

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welcome back to another tax sale starters tip of the week and in this weekamp;#39;s question uh that we received from our audience is does the tax deed at auction wipe out an existing mortgage iamp;#39;ll answer that question in just a moment typically in a tax deed when it goes into auction the mortgage is pushed to a secondary position in other words the tax lien or the tax deed takes priority over a mortgage so even though the mortgage is in the first position the tax deed supersedes that itamp;#39;s called like a super lien if you will and it takes position uh precedence over the mortgage now many times mortgage owners or mortgage holders will come back and buy that lien or certificate prior to the auction uh which is why sometimes you may notice that when you have a list going into the auction the day before you go into the auction that list is uh slightly changed and some of the properties you may have been looking at have been removed and that is because the financial

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How do I remove a clause from a Word document?

Procedure Open a contract in the Contract Editor or Word Editor. Select a language clause that you want to delete. If the clause does not have an approvals list, click Add/Remove Clause Delete Clause. If the clause has an approvals list, select the clause title, and press Delete on your keyboard.

What is an example of a kick-out clause?

Heres an example: Lets say a buyer puts down an offer for $160,000 on a home and another buyer comes along a week later and offers $190,000 instead. If a 72-hour clause has been written into the contract, the original buyer now has 72 hours to make a better offer than $190,000.

What happens if a backup offer is made on a property when a kick-out clause is in effect?

What happens if a backup offer is made on a property when a kick-out clause is in effect? If the new offer is better than the existing offer, the seller can choose to accept the new offer. The contracted buyers have a specified time to remove the home sale contingency and proceed with the purchase.

What is the first right of refusal with a 48 hour kick-out clause?

Right of First Refusal The kick-out clause would generally give the first buyer a specified period (e.g., 72 hours) to either: Remove their sale-of-home contingency and move forward with the purchase, showing they have the means to complete the purchase without selling their existing home.

What does the 72 hour kick-out clause mean?

In most cases the buyer has 72 hours to decide if they want to remove their contingencies and proceed with the sale anyway. If not, the original sale is cancelled. The buyer receives their deposit money back and the seller can proceed with the second offer.

What is a wipe out clause?

A wipeout clause is a clause that specifies who assets go to if none of your immediate family / named beneficiaries survive. That is, you can leave assets to a spouse and kids, or specific assets to specific individuals.

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