Although title companies, lenders, and contracting parties may be able to continue business by telecommuting during the coronavirus pandemic, they still may need to adapt and change their closing checklists to assure that closings go forward as planned.
Read MoreMarket changes and governmental requirments due to coronavirus may trigger contract force majeure provisions and excuse parties from contract performance.
Read MoreThe implied covenant of good faith and fair dealing exists, at least to some extent, in every state's law. Yet, parties often do not consider the implied covenant's impact when negotiating and performing contracts.
Read MoreDifferent aspects of the financing process occur at different points in the real estate transaction. Yet, most real estate buyers depend upon the money from mortgage lenders to buy the property; the real estate transaction cannot occur without financing.
Read MoreAt every real estate closing, the buyer pays for the real property, and title changes hands, but some real estate closings require many additional documents.
Read MoreDuring the time between the end of the due diligence inspection period and the closing, parties to a real estate transaction prepare for the closing, but they also must be sure that unexpected developments don't derail the transaction.
Read MoreMost 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 MoreReal estate transactions can be broken into seven standard parts. Despite this, each transaction is as different as the parcel of real estate being purchased.
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.
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