| Explanation of Mediation |
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| We all hope to live harmoniously with our neighbors. Sometimes, however, disputes arise due to varying lifestyles. One way to resolve disputes is through the use of a form of alternative dispute resolution known as mediation.More... |
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| Real Estate Broker and Agent -- Definitions and Licensing |
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| Real estate agents are sales persons who usually work for a broker in exchange for a portion of the commission earned by the agent on a sale or purchase of real estate. Brokers usually work out of an independent business and arrange for sales of real estate.More... |
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| Disclosure of Material Facts and Hidden Defects |
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| When a buyer is looking for a dream home, the last thing he or she expects to find is a material defect that will change the dream into a nightmare. To avoid that scenario, a real estate agent has an obligation to make a full and timely disclosure of all known facts that are relevant or material to the condition and characteristics of the property under consideration.More... |
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| The Doctrine of Waste |
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| The rationale behind the doctrine of waste is that one who is entitled to receive a future interest in real property is entitled to receive the property in the same condition it was in at the time the future interest was created by the original grantor. Although the doctrine of waste may prevent changes that increase the value of the property, more often it refers to action or inaction that damages the property in some respect.More... |
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| The Real Estate Settlement Procedures Act |
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| Certainly, the purchase of a home is a very significant event. In 1974, Congress enacted the Real Estate Settlement Procedures Act (RESPA) in order to protect home buyers from paying excessive settlement costs and from certain abusive practices.More... |
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