An exciting day in any real estate deal is the day you receive your keys and become the owner of your new home. Well done on being a proud owner of your first house! The term "close of escrow" is often used to describe the final step in the house buying process. There are many […]
Novation in real estate refers to voiding an existing contract and replacing it with a new one with the same or close economic value. This new agreement incorporates all the advantages, obligations, and liabilities described before. It is crucial in real estate transactions when contractual terms are renegotiated. More than verbal agreements or striking out […]
GCI is an abbreviation for gross commission income in real estate and refers to your overall earnings from commissions on rentals, purchases, and transactions. As this is your total commission, it is the amount you will see before your brokerage begins deducting their half of the split, as well as any additional transaction or referral […]
