Definition of "Mistake"
Unintentional error. An example is a house that the seller wants $1,000,000 for but it is mistyped as $100,000. An error may be unilateral or mutual. Some types of errors are the basis to rescind a contract.
Popular Real Estate Terms
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Ownership of property transfers from the seller to the buyer when the parties sign the contract. ...
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Fee charged by a mortgage lender to a buyer, seller or both for transferring a mortgage when the mortgage property is sold. ...
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