Archive for July, 2006
Buying Properties
FIRST (Finding a Property): Contact Us to let us know what type of property you are looking to purchase. iRi Group will help you narrow your search in finding quality real estate investments. If you have any questions about any particular listing, please feel free to contact us.
SECOND (Negotiation): Once you find a property that you wish to purchase, we will assist you negotiate the price and terms. Once we have negotiated and agreed to the terms (purchase price, payment form, Broker’s commission if any, Legal Services Fees, etc.), then all of these details are inserted by the broker on a property transaction form.
THIRD (Promise to Purchase/Sale Contract): The information from the property transaction form is provided by the broker to the attorney, who drafts the Promise to Purchase/Sale Contract, which is signed by both parties. Generally, a down payment of approximately 10% (depending on the agreed terms) is made to the escrow company, which is paid to the seller at the time the contract is signed.
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