An alienation clause protects a lender in two important ways.
It ensures that they get paid first from the proceeds of a sale. It also prevents a buyer from assuming the seller’s loan.
It is different than an acceleration clause which allows the bank to foreclose.
Alienation real estate is important because these rights protect your ability to sell or gift your property to someone else.
An assignment clause in a real estate contract allows an investor to act as a middleman between a buyer and seller.
The investor finds motivated buyers and brokers a deal with buyer. They then assign the contract to the buyer and earn a fee.
Someone bought a house in my name. Are you a victim of a scam, or a beneficiary of a generous gift?
These types of scams are rare, but you should be careful if you are a victim. get sound legal advice before doing anything.
If you are the beneficiary of a generous gift learn about all the responsibilities associated with home ownership.
The title company needs a survey to protect you and your mortgage company.
Boundary issues are common and include easements, encroachments, and boundary disputes.
Sometimes you won’t even know about the problem until the surveyor precisely sets your boundary and building locations.
A residential real estate survey helps buyers uncover hidden boundary issues with the property they want to buy.
In many cases mortgage companies won’t underwrite a loan without a current survey.
Sometimes, extending the due diligence period is necessary if there is a major problem.
Don’t, however, let the other side procrastinate by agreeing to an extension without a good reason.
Many states and mortgage companies require a survey for real estate transactions.
Even if they don’t, though, you should consider getting one.
Easements, encroachments, zoning, and boundary problems are all issues a survey can expose.
Is an option binding? It is for the seller, but not the buyer in most cases.
In a rent-to-own situation the tenant must pay rent according to the contract, but they have the option to actually buy the home.
The buyer may assign a straight options but not rent-to-own or lease purchase agreements.
An option in real estate may be good for investors and renters. They do have disadvantages, though.
There are three basic types: straight, lease, and rent-to-own.
Carefully read your contract and make sure you understand the agreement before you sign.