Category Archives: Auto Loans
The Real Estate Purchase Agreement
Buying any piece of real estate property whether it be a home, condominium or building requires a written agreement. This is known as the real estate purchase agreement or a sales contract. It is called for in the U.S. Statute of Frauds that all financial transactions involving real estate be put in writing to be enforceable.
A purchase agreement is entered into by two parties the buyer and the seller. Being the principals in the transaction, both of their names and signatures should appear on the document.
Other important details that need to be specified in the contract include the following:
* Legal description and address of the property. This should state the physical condition of the home and its specific location.
* The purchase price the buyer is offering.
* The amount of down payment also referred to as earnest money or deposit and who will keep it during the transaction. Usually, a lawyer acts as the escrow agent. A condition may be included as well stipulating the return of the deposit if the sale does not push through due to the buyers failure to secure a loan.
* The time frame needed to respond to the offer such as 24 hours or 48 hours. The buyer may specify this to keep the seller from accepting additional bids from other buyers.
* The party in charge to keep the deposit and to close the transaction. The closing may be handled by either the attorney or the real estate agent whichever may be agreed upon by the two parties.
* Items included or excluded in the sale. These refer to the appliances and furniture that the buyer may want to keep or discard in the property concerned such as carpeting and lighting fixtures.
* Home warranty. This guarantees the buyer that the seller will provide a clear title to the property at the time of closing. The document may either be an abstract of title, certificate of title or a title insurance policy.
* The party to pay for the closing costs. Many sellers shoulder the closing costs as an incentive to buyers. Depending on both parties, though, the costs can also be split.
* Clause for inspection and appraisal. Buyers normally ask for a home inspection to ensure that the property they are buying is in good condition. The inspection also aims to find out defects and the presence of pests, if any. The appraisal, meanwhile, is meant to determine the actual market value of the residential property.
* Mortgage contingency. This may be specified by the buyer as a guarantee that the buyer obtains a mortgage loan before closing. This may also release the buyer from the offer in the event he or she fails to get a loan.
The real estate purchase agreement is initiated by the buyer. However, its not all the time that the seller accepts the offer in its totality right away. What usually happens is that a seller will respond by submitting a counter offer that proposes some changes to the buyers conditions. Negotiations will begin only after the buyer and seller agree to the contracts terms and conditions.
Fast Cash Loans: The Instant Cash
Summary: Fast cash loans are those really fast means of getting really quick sums of money to fulfill the urgent needs put forward by the emergency happenings or mis-happenings.
These borrowings provide instant funds for the borrowers during the times of financial exigencies. Such loans are taken as short term funds and are approved without any requirement of the security against them. But before going for availing these loans, the borrower must compare the numerous quotes of various credit givers with the help of Internet.
Though dealings in the matters regarding emergencies are related to the availability or non-availability of finances, but sometimes the funds might not be available to the borrowers. If a person happens to be a salaried one, then arranging the necessary money becomes really hard because the sources of income of that person are not sufficient to meet these economic challenges put forward by the unseen forces. It is because so around the month ends, the funds get almost depleted. In these situations, the borrowers can go for fast cash loans. These loans are also called as the ‘payday loans’ which are designed specifically to enable the borrowers in handling the emergencies and the related unwanted expenditures without any lapse of time.
The ‘fast cash personal loans’ are devised to help the credit taker in tackling the impending emergencies at such times when he/she does not have the finances in hand. As the name suggests, these borrowings are availed to the borrowers just within a few hours after their submitting the application form to the loan givers. The note of sanction instantly arrives as there is no lengthy paper-work involved, nor there is any requirement of security. To get the loan amount, the borrower is just required to give some documents like the employment status, the total income earned, bank statements about the client etc.
Though the credit givers approve these loans without needing any item of collateral; some fund providers prefer to use a post-dated cheque containing the loaned amount along with the loan availing process fees. Whenever the repayment time comes to an end, the lenders take out the sum from the borrower’s bank account. Such funds are basically short period money provisions, and they are completely unsecured in nature. With these funds, the credit givers sanction the loaned amount depending on the basis of the credit-takers upcoming pay-cheque. This is one of the main reasons why these funds are available for a time of 2 weeks to a month only.
Usually, these fast cash loans have a very big interest rate. This is done by the credit givers to cover the risks involved in the dealing because the amount is granted without putting anything as a security and that also on a very short term basis. This is the reason the financial experts recommend these loans to be utilized only at the times of economic emergencies and not for meeting any day to day expenses.
The fast cash loans are approved by the lenders to the clients without doing any credit checking; and thus, these funds are easily available. Because for these funds the lenders do not perform any credit checking, this shows the way even for the bad credit credit takers to avail the funds without any problems. But, the clients should analyze the terms and conditions in a thorough manner which can be accomplished by comparing the loan quotes with the help of various online resources on the Internet. Further, after getting the loans, the borrower must repay the amount on time, otherwise some legal proceeding might be taken up by the lenders.