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When Does A Contract Become A Binding Contract? – Written by Benny L. Kass

 Question: We signed a contract to sell our house, and gave the buyers certain time limits. From the date of "contract ratification" they had 7 business days to have the house inspected, and 30 days in which to obtain financing.Exactly what constitutes "ratification"? A REALTOR® friend told us that a contract is ratified when all parties sign off on the contract document, but a lawyer friend said it starts when all contingencies have been removed. Who is right? Answer: Depending on the

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Seller Take Backs Can Be A Useful Marketing Tool – Written by Benny L. Kass

Question. I am considering selling a rental house I own and taking back the loan myself. This would give me monthly income and get me out of the landlord business. What is the procedure to follow in doing this? Is there a risk? Answer. A seller take back loan means that you -- as the seller of real estate -- will deed the house to the buyer and instead of getting all cash, you will get some cash and the balance in a mortgage or deed of trust. Many sellers, when faced with the unce

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Three Ways to Invest In a Home and Not Get Hurt – Written by Blanche Evans

 Buy low, sell high. That's the investor's maxim that never fails. The trick is in knowing when to buy and when to sell. Investing in a home is never as easy or as quick to deliver returns as you may wish. We all want to ride the boom and avoid the crash. Here are three ways to buy a home safely.Don't try to time the market Some homebuyers believe that waiting for prices or interest rates to go lower is the way to buy a home. But there are two things wrong with that approach. First, what

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How To Know If You Should Stay Or You Should Go – Written by Jaymi Naciri

 Should you stay or should you go? It's the premise of the popular HGTV program "Love it or List it" and also a dilemma for countless homeowners today.Many of us can relate to the issue raised on the show. But we don't all have $100,000 and a team of designers to make our old home sparkle again. So how do you know when it's time to cut and run or reach deep into the pockets to make the necessary changes to make your home function for you again?WHEN TO STAYYour mortgage is close to paid off. Yo

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Proper Real Estate Buyer Etiquette – Written by Jeff Gould

Be Prepared Any strong offer on a home will include a mortgage pre-approval. Be prepared and have one done before you start your home search. A pre-approval shows the seller your seriousness and strength as a potential buyer. Not only is it a must when making an offer it also will allow you to know exactly how much home you can afford. You don’t need a pre-approval when you first contact a REALTOR®, but make sure you have one before you start looking at homes. For an in-depth breakdow

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