a Nonexclusive listing the nonexclusive right to secure a purchaser given by a

A nonexclusive listing the nonexclusive right to

This preview shows page 70 - 73 out of 114 pages.

a. Nonexclusive listing; the nonexclusive right to secure a purchaser, given by a property owner to a real estate agent; more than one agent may be given such authorization, and only the first to procure a ready, willing, and able buyer""or an offer acceptable to the seller""will be entitled to compensation. (Real Estate Principles, Real Estate Practice). b. A listing in which the owner of the property gives the right to sell or lease a property to a number of brokers, who then can work simultaneously to effect a sale or lease. Compensation is owed to the broker who procures a ready, willing, and able buyer or tenant. (Real Estate Brokerage). c. Nonexclusive-right-to-sell listings. (Real Estate Law). An act that disturbs the use or enjoyment of the property of another. 35b
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Opinions Of Title: Or More Clause: Option: Ostensible Agency: Optional Advances: Parol Evidence Rule: Option Listing: Partially Amortized Loan: Order Paper: Partial Zoning: 36a
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A clause that allows debtor to increase payments without prepayment penalties. Opinions of the marketability of a title given by an attorney based on the abstract of title. a. Holding out an agency relationship on which another relies. (Real Estate Principles). b. An agency created by implication when the principal intentionally, or by want of ordinary care, causes a third person to believe another person is the agent of the principal, although no actual agency exists. (Real Estate Law). a. A right given for a consideration to purchase or lease property on specified terms within a specified time, with no obligation on the part of the person receiving the right to exercise it. (Real Estate Principles, Real Estate Practice). b. An irrevocable right given to one party to bind another party to an agreement if the party wishes to do so. (Real Estate Law). c. A right given for a valuable consideration to purchase or lease property at a future date, for a specified price and terms. The right may or may not be exercised at the option holder's (optionee's) discretion. (Fundamentals of Real Estate Appraisal). d. An agreement to keep open for a set period an offer to sell or purchase property. (Real Estate Economics). The general rule that verbal evidence cannot be used to modify a clearly written contract. Advances on a loan that the lender is not obligated to make. A loan in which payments fail to liquidate loan by due date, resulting in a final balloon payment. a. A listing agreement that gives the listing broker the right to purchase the listed property; because of the potential for the appearance of impropriety, if the option is exercised the principal should be informed of the broker's profit in the transaction and agree to it in writing. (Real Estate Principles). b. A listing combined with an option of the agent to purchase the property. (Real Estate Law).
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