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Bill of sale. A bill of sale is a document that transfers ownership of goods from one person to another. It is used in situations where the former owner transfers possession of the goods to a new owner. Bills of sale may be used in a wide variety of transactions: to sell goods, exchange, give, or mortgage objects.
A broker's price opinion (BPO) is a report that is performed by a licensed real estate agent, broker. or appraiser. A BPO is an informal appraisal. It is similar to doing a CMA ( Comparative Market Analysis) but most times the real estate professional gets paid to do a BPO. A BPO can be either an exterior drive-by or a full interior report.
Contract law. Breach of contract is a legal cause of action and a type of civil wrong, in which a binding agreement or bargained-for exchange is not honored by one or more of the parties to the contract by non-performance or interference with the other party's performance. Breach occurs when a party to a contract fails to fulfill its obligation ...
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The concept of hell or high water exists in the real estate market, but only in commercial real estate. It is not very widely used in real estate, and is generally only used in bond leases , which are also referred to as "triple net leases" or "hell or high water leases".
NAR's members are residential and commercial real estate brokers, real estate salespeople, immovable property managers, appraisers, counselors, and others engaged in all aspects of the real estate (immovable property) industry, where a state license to practice is required.
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