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Lawyers
Jun 8, 2021 12:04:05 GMT -6
Post by Logan Roy’s Bastard Son on Jun 8, 2021 12:04:05 GMT -6
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Lawyers
Jun 29, 2021 7:51:28 GMT -6
Post by GhostMod 5000 on Jun 29, 2021 7:51:28 GMT -6
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Post by Logan Roy’s Bastard Son on Jan 28, 2022 13:12:06 GMT -6
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Lawyers
Jun 10, 2022 8:30:52 GMT -6
via mobile
Post by Ginger on Jun 10, 2022 8:30:52 GMT -6
Sounds like a good lawyer…
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Lawyers
Dec 30, 2022 9:52:14 GMT -6
via mobile
Post by Ginger on Dec 30, 2022 9:52:14 GMT -6
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Lawyers
Dec 30, 2022 11:31:53 GMT -6
via mobile
Post by thunderhawk on Dec 30, 2022 11:31:53 GMT -6
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Lawyers
Feb 18, 2023 14:31:57 GMT -6
Post by socal on Feb 18, 2023 14:31:57 GMT -6
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Lawyers
May 3, 2023 14:40:27 GMT -6
Post by socal on May 3, 2023 14:40:27 GMT -6
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Lawyers
Aug 12, 2023 8:45:31 GMT -6
Post by socal on Aug 12, 2023 8:45:31 GMT -6
Question... Would it be possible to include a binding contingency in the sale of a house that the house cannot be resold within X years? ... or that if it is to be sold, it must be first offered back to the original seller?
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Lawyers
Aug 12, 2023 9:49:25 GMT -6
Post by NOTTHOR on Aug 12, 2023 9:49:25 GMT -6
Question... Would it be possible to include a binding contingency in the sale of a house that the house cannot be resold within X years? ... or that if it is to be sold, it must be first offered back to the original seller? The prohibition on sale probably wouldn't fly, but you could negotiate a right of first offer. You would have to file it with the recorder of deeds for it to be valid. They are common instruments in commercial deals. Problem is a ROFO or ROFR is a cloud on title and the reason you can see it on commercial deals is they have personalized underwriting on the mortgage, I have no idea if you could still get a mortgage on a residence with a ROFO on the title. Depending on how it is worded and when it is filed it can impair the rights of the mortgage lender and they don't take too kindly to that. Good luck getting Wells Fargo or whomever to sign off on that on a loan. If it's a cash buyer, though, you can do it easily.
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Lawyers
Aug 12, 2023 12:09:13 GMT -6
Post by socal on Aug 12, 2023 12:09:13 GMT -6
Question... Would it be possible to include a binding contingency in the sale of a house that the house cannot be resold within X years? ... or that if it is to be sold, it must be first offered back to the original seller? The prohibition on sale probably wouldn't fly, but you could negotiate a right of first offer. You would have to file it with the recorder of deeds for it to be valid. They are common instruments in commercial deals. Problem is a ROFO or ROFR is a cloud on title and the reason you can see it on commercial deals is they have personalized underwriting on the mortgage, I have no idea if you could still get a mortgage on a residence with a ROFO on the title. Depending on how it is worded and when it is filed it can impair the rights of the mortgage lender and they don't take too kindly to that. Good luck getting Wells Fargo or whomever to sign off on that on a loan. If it's a cash buyer, though, you can do it easily. k. Thanks. Just planning out the inevitable time when the folks pass. More wanting to not gouge someone and make an affordable listing, and instead sell to someone that wouldn't just flip or rent it out. --of course, folks are quasi hoarders and the place would need lots of TLC to even put on the market. I know property is property and you lose control after sale, but otoh - would be selective of the buyer.
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Lawyers
Aug 12, 2023 17:12:40 GMT -6
Post by thunderhawk on Aug 12, 2023 17:12:40 GMT -6
The prohibition on sale probably wouldn't fly, but you could negotiate a right of first offer. You would have to file it with the recorder of deeds for it to be valid. They are common instruments in commercial deals. Problem is a ROFO or ROFR is a cloud on title and the reason you can see it on commercial deals is they have personalized underwriting on the mortgage, I have no idea if you could still get a mortgage on a residence with a ROFO on the title. Depending on how it is worded and when it is filed it can impair the rights of the mortgage lender and they don't take too kindly to that. Good luck getting Wells Fargo or whomever to sign off on that on a loan. If it's a cash buyer, though, you can do it easily. k. Thanks. Just planning out the inevitable time when the folks pass. More wanting to not gouge someone and make an affordable listing, and instead sell to someone that wouldn't just flip or rent it out. --of course, folks are quasi hoarders and the place would need lots of TLC to even put on the market. I know property is property and you lose control after sale, but otoh - would be selective of the buyer. Is there a mortgage on it?
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Lawyers
Aug 13, 2023 6:25:19 GMT -6
Post by socal on Aug 13, 2023 6:25:19 GMT -6
k. Thanks. Just planning out the inevitable time when the folks pass. More wanting to not gouge someone and make an affordable listing, and instead sell to someone that wouldn't just flip or rent it out. --of course, folks are quasi hoarders and the place would need lots of TLC to even put on the market. I know property is property and you lose control after sale, but otoh - would be selective of the buyer. Is there a mortgage on it? Nope.
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Lawyers
Aug 18, 2023 4:37:12 GMT -6
Post by socal on Aug 18, 2023 4:37:12 GMT -6
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Lawyers
Nov 28, 2023 9:14:25 GMT -6
Post by socal on Nov 28, 2023 9:14:25 GMT -6
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Lawyers
Feb 18, 2024 6:37:08 GMT -6
Post by socal on Feb 18, 2024 6:37:08 GMT -6
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Post by socal on Mar 9, 2024 2:36:37 GMT -6
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