- Contingencies
- Contracts
- Financing Caveats
- Real Estate 101
- Real Estate Agent Ethics
- Stories from the Front Lines
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Who pays real estate commissions?
In a typical real estate transaction, the seller pays the real estate commissions. The seller enters into a listing agreement with a real estate agent or broker, which outlines the terms and conditions of the agent’s representation in selling the property. The listing agreement specifies the commission rate, typically a percentage of the final sale…
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What is a contingency in a real estate contract?
Contingencies in a real estate contract are provisions or conditions that must be met for the contract to be binding. They provide a way for the buyer or seller to back out of the contract or negotiate changes if certain specified conditions are not satisfied. Contingencies help protect the interests of both parties and ensure…
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What is a CL100?
A CL100 is a term often used in the context of real estate transactions, specifically in South Carolina. It refers to a Wood Infestation Report, also known as a “termite letter” or “termite inspection report.” The CL100 form is a standardized document that provides information about the presence or absence of wood-destroying insects, such as…
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FHA Loans and Impacts to the Sales Contract
Choosing an FHA loan can impact a seller’s rights in a sale in a few ways – this means that if a buyer suddenly changes their loan type mid-transaction, the rights of the seller can be seriously impacted and may require some discussion. This seems to be a surprise for many agents, so this article…