What is extras in real estate?
Definition of “Customer’s extras”
Features a home buyer orders from a custom builder or developer when purchasing a home. For example, a customer may order a two-car garage when buying a home requiring an additional charge.
Can an agent lie about an offer?
Underquoting is when an agent falsely advertises a property or tells you that it will sell for an amount that is less than their actual estimated selling price in the agency agreement they have with the seller. This is an offence and agents can lose their fees and commissions and be fined up to $22,000.
Is it rude to have two realtors?
Using Multiple Agents Is Unethical
Since realtors work on commission, they need to have some guarantee that the work they are doing will result in compensation. This is where they have to rely on each other and their code of ethics.
What does fronting mean in real estate?
Fronting on – The side of the street where the property is located. For example: If a house is located on the EAST side of a street, it would face WEST. If it was located on the NORTH side of a street (fronting on) it would face SOUTH.
What does S o mean in real estate?
FMV – fair market value. Fp – fireplace. FSBO – for sale by owner. Gar – garage.
Can realestate agent lie about other offers?
Many agents simply believe they’re not allowed to. They’re under the impression that it’s illegal, or they think it’s unfair to the party who made the offer. But for agents in NSW, this is completely untrue. Legally, agents in NSW are allowed to disclose current offers to any other potential buyers.
Can I outbid an accepted offer?
If the purchase contract hasn’t been signed, the seller could accept another offer, even if you think they’ve accepted yours. The seller generally cannot cancel your contract if you are in compliance simply because the seller received a better offer from another buyer.
Do agents lie?
It is not uncommon for a real estate agent to be tempted into bending the truth to make a sale. This tendency toward dishonesty is perhaps the key reason that the real estate industry has had a tough time dealing with a negative reputation. This blog post is designed to help buyers turn the tables.
Who ultimately determines price?
Purchase offers are higher when compared to the asking price, and the home seller has more control over price negotiations. The market ultimately determines the true value of your home, and your Realtor will closely monitor the market’s response and report to you about competing properties and market trends.
What are not really deeds?
Which of the following deeds are not really deeds at all? Land Patent. Trust Deed. Trustee’s Deed is given to the buyer of property at a trust deed foreclosure sale, and a Land Patent is used by the government to grant public land to an individual. A Trust Deed is not a deed.
Who regulates real estate advertising?
The U.S. Department of Housing and Urban Development (HUD) oversees the law and restricts property owners and agents from discriminating when renting or selling single family and owner occupied property. The act also regulates what words cannot be published in advertisements.