Most real estate purchase contracts include a due diligence inspection period. Although there are certain inspections which every buyer should conduct, others will depend upon the age, location, and use of the property and the buyer's plans.
Read MoreThe pre-contract period, when the parties negotiate contract terms and may share information is the important first stage in a real estate transaction.
Read MoreTo real estate buyers, title insurance options can be confusing. There is standard and extended coverage, which is limited by exclusions and exceptions. Plus, a buyer can purchase endorsements to provide coverage for specific concerns.
Read MoreDespite the bridge’s conspicuous position on the top of the violin and its importance to the sound produced, non-violinists aren’t likely to give it a second glance. The same is true of successors and assigns clauses in contracts. The language isn’t hidden; yet, contracting parties may not even read them before signing the contract.
Read MoreThe study of law in the U.S. is treated more as a science than as an art. Law school requires that students learn hundreds of legal concepts, much as a musician would learn mechanically how to play an instrument. A good amount of the study of law involves memorization of rules – court rules, equitable maxims, statutes, and regulations.
Read MoreFermatas and grand pauses are alternatives a composer can use slow down the pace of the music when the changes to tempowon't create the desired effect. In a real estate transaction, sometimes, the parties’ circumstances don't allow for a holdback, and the parties are forced to look for alternatives.
Read MoreThere are four music terms describing a holding back of tempo, each having its own nuanced meaning. Similarly, there are different holdback strategies in real estate transactions, which parties should tailor to the needs of their transaction.
Read MoreAn advanced musician will read the music by scale and arpeggio patterns that the musician has been practicing for years. People reviewing real estate contracts may act like advanced musicians. They may become so accustomed to certain contract clauses that they may breeze through them, thinking they are "standard boilerplate.” In this article, we will discuss “boilerplate” clauses that describe how a contract is signed and delivered.
Read MoreSight-reading is a crucial skill for a professional musician. Many auditions include a sight-reading “test,” to see whether the musician can perform at a high level with little rehearsal time. When reviewing real estate contracts, many people act like an inexperienced musician sight-reading music.
Read MoreOnce a music classmate asked me for help on his music theory homework. Immediately, I saw his challenge. My classmate he had glossed over the clef signs, thinking they were “boilerplate.” When reviewing real estate contracts, many people gloss over miscellaneous “boilerplate” sections. "Boilerplate” sections are important, and contracting party can get burned by not carefully reviewing and negotiating them.
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