Popular Real Estate Terms
A public area, or plaza with a series of walkways permitting pedestrians easy access to shops, stores and restaurants. Modern malls are often enclosed enabling all weather access. Malls are ...
The consolidation of items that have been considered a part of property but are not actually annexed, secured, or joined to it. ...
Market condition in which sellers exceed buyers, thereby causing prices to fall. In real estate, declining markets may result from unfavorable business conditions and high interest rates. ...
Any lease with a specific starting time and a specific ending time. ...
The income earned on an investment, typically stated as a percentage of the market price ...
Interior building trim surrounding windows, doors, and baseboards. Interior trim is both decorative and functional. It comes in several different styles and serves to finish the adjoining ...
In real estate and across the nation, you will see different types of house structures, frames, and aspects. One of those is the A-frame type. This is an architectural style that leans ...
Buildings in England in the 16th and 17th century with strong foundations, supports, studs, and knees. In American architecture this originally building has been combined with the English ...
Initial or senior mortgage on property. It comes before all subsequent mortgages, and the mortgage has precedence in payment if default occurs. ...
Comments for Duress
I would like to know why a law does not exist that forces real estate agents to say to vendors to take sale contract home or to their lawyers to verify. They always place contracts in front of people and point a finger to the signatory spor and say "sign here". I once said "I need to take contract home to think about it" and the agent immediately said "No, you can't, the purchaser will place an offer elsewhere". Is this action not considered duress. They are pushy and play on people's emotions.
Aug 20, 2019 23:25:44Hello! Thank you for bringing up this issue. There must be clients who have the same question. However, the answer is quite simple. Don't go alone! Whenever you have to sign a contract, ask a professional to join you - ideally, a lawyer. There is a lot of jargon and many real estate terms that you may not fully understand. If you want to study the contract, I'm sure that nobody would mind if you actually took the time to read it. If they didn't feel comfortable with this, then it would be a good idea to leave and do business with somebody else. Contracts are very powerful documents and both parties must know exactly what they are getting themselves into. As for the fact that agents play on people's emotions, this is true for all businesses. Emotions are the essence of marketing.
Aug 26, 2019 16:14:05Have a question or comment?
We're here to help.