https://youtu.be/N9wXT3dsVMM?si=4a0eCTyiOqi1Arq_ Real Estate Keynotes: Amendment An amendment is an official change to a real estate contract after it’s signed. For example, if a closing date needs to be pushed back or a seller agrees to cover repairs after an inspection, an amendment updates the contract to reflect those changes. Both parties must agree to an amendment for it to be valid....
https://youtube.com/shorts/bwKHrsxL8-0?si=_qKb7pukd1bRfZ3I Real Estate Keynotes: Counteroffer A counteroffer happens when a seller responds to a buyer’s offer with different terms—such as a higher price, a different closing date, or adjusted contingencies. Instead of accepting the original offer, the seller proposes changes, and the buyer can choose to accept, reject, or make another...
https://youtube.com/shorts/F3rBxx0aHZg?si=9Xltt9crkLLICzLA Real Estate Keynotes: Contingency. A contingency is a condition that must be met for a home sale to go through. For example, a financing contingency indicates that a buyer’s loan needs to be fully approved for the sale to be finalized. If their loan isn’t approved and this condition is properly disclosed to all parties, the contingency...
https://youtube.com/shorts/tvXdt-sghJY?si=gfmIVJY_zdlohOWj Real Estate Keynotes: Rider A rider is an addendum or attachment to a contract that adds specific terms or conditions. Riders allow you to customize the agreement to meet your needs while ensuring clarity for both the buyer and seller. For example, if you need to sell your current home before closing on the one you’re buying, you’d...
https://youtube.com/shorts/nYz8X3g_FVM?si=VRawiXhckiUziIHK Real Estate Keynotes: Sales Contract A sales contract is the official agreement between the buyer and seller once an offer is accepted. It outlines all the terms of the transaction, including the purchase price, contingencies, closing date, and any other negotiated details. This document is legally binding, so it’s essential to review it...
https://youtube.com/shorts/hea0VF28ye4?feature=share Real Estate Keynotes: Offer In real estate, an offer is a formal proposal you make to purchase a home. And it is not just about the price you're willing to pay. Along with the price, it outlines critical details like contingencies for inspections or financing, your proposed closing date, and other terms that can make your offer stand out. Once...
https://youtube.com/shorts/9ieNNb9-5PA?feature=share Real Estate Keynotes: EnsuiteWhat does it mean when a listing says "ensuite"? Ensuite is a bathroom that is directly connected to a bedroom. It's popular for convenience and privacy. Make sure to note this feature when you go see a house if that's what you're looking for...
https://youtube.com/shorts/bWbpm7qNulc?feature=share Real Estate Keynotes: Slab Slab is a home without a basement. It is a more affordable option compared to a house with a basement. However, it offers limited storage space, no extra living space below, and limited shelter during tornado warnings. A tornado shelter is something a lot of people appreciate here in St...
Seller's Disclosure is a document provided by the seller about the home's condition, to the best of their knowledge. This can include past water damage, electrical problems, the age of the roof, etc. Be sure to review it carefully before making an offer if it's...
https://youtu.be/s64_yefAlZo?si=rAQw_fagjxsvTBUJ Real Estate Keynotes: Appraisal 💰 usually required by a mortgage lender during the home buying process. It makes sure the home's value you're buying justifies the loan amount. If it comes in lower than the offer, you may need to renegotiate the offer or bring extra cash to close the deal. If it's higher, great news for you...