Using Letters Of Intent In Real Estate Transactions

Question: We want to rent a 7,000-square-foot home in Paradise Valley for two years for $12,000 a month. The owners live in Boston, and their attorney has drafted a letter of intent (“LOI”), which has been signed by the owners and forwarded to our rental agent for us to sign. Our rental agent says that…

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Buyer May Want To Waive Home Inspection

Question: In a recent column you said that, if the seller was unhappy with the sale price of the home and as a result would not allow a home inspection by the buyer, the buyer could waive the home inspection. In other words, you said that the buyer should “suck it up” because the seller…

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Real Estate Agent Experienced With Neighborhood Needed

Question: My husband and I want to sell our Flagstaff home, which has appreciated significantly in value. My sister-in-law is a real estate agent in Prescott and has offered to list our Flagstaff home on MLS for a 4% commission, with only a 1% commission to her as the listing agent and a 3% commission…

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