Tag: contract

The bait ‘n’ switch continued…

In Part 1, we looked at a scenario where a purchaser (Offer B) was attempting to switch from an “all cash” purchase to using lender financing under the GCAAR Regional Sales Contract, after the contract had been ratified. We concluded...

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Buying a newly renovated house

I am putting in an offer on a recently renovated house and I am not sure the sellers got permits. Is there a way to protect myself in the contract? Buying a newly renovated house is always an adventure. What do you ask for and what don’t...

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What exactly does a title company do?

While we talk all the time about the importance of shopping for title services, it’s about time we address what it is exactly that a title company does. Let’s take a closer look at what goes on between the time when you agree...

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What is an earnest money deposit?

An Earnest Money Deposit, more commonly known as an EMD, is one of the first steps in the home buying process. Today I will discuss the EMD and how quickly should one be deposited. An EMD is essentially a good faith deposit to demonstrate...

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Adding a buyer to a purchase deed

Several times a month, attorneys at Federal Title are presented with the following scenario: My buyer wants to add his wife/girlfriend/parent/child to the deed at closing. Can you just add him or her to the deed when we come in to sign? The...

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First-time homebuyer tax credit clarification

Since November of 2009, when Congress extended the First-time Homebuyer Credit, I have conducted a few hundred real estate closings and have heard a lot of misinformation being shared among real estate agents, mortgage lenders and homebuyers. The...

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