Lurking behind almost every home sale price is a shadow sale price that the market will never discover. This is a key reason why relying on AI for sale price info can be extremely misleading; AI only uses publicly available pricing data. Seller credits, rate buydowns,...
Equitable conversion is a legal doctrine in real estate law stating that once a valid and enforceable purchase contract is executed, the buyer is regarded as the equitable owner of the property, while the seller retains legal title primarily as security for payment of...
Express authority is the specific authority that a principal intentionally grants to an agent, either orally or in writing, allowing the agent to act on the principal’s behalf in designated matters. In real estate, express authority is most commonly created through...
An easement in gross is a type of easement that grants a person or entity the legal right to use another person’s land for a specific purpose, but does not benefit any adjoining parcel of property. Unlike an appurtenant easement, which is tied to neighboring land and...
An encumbrance is any claim, restriction, lien, or legal interest held by someone other than the property owner that affects the title to real property or limits the owner’s use of the property. Encumbrances may reduce the property’s value, restrict transferability,...
