Downtown San Diego Home Selling Tips and Terms

July 7th, 2015

Effective home selling in Downtown San Diego requires real estate know how. Here are some key terms that you should know:

A 1031 Exchange is a tax aspect of the Internal Revenue Code to allow a real estate investor who meets all the requirements to sell their property and defer paying taxes on the gain. By completing an exchange, the owner can dispose of their investment property, use all of the equity to acquire replacement investment property, defer the capital gain tax that would ordinarily be paid, and leverage all of their equity into the replacement property.

A Breach Of Contract occurs when a party is in violation of a direct obligation or failure to perform provisions in the contract agreement. In the world of real estate, a contract breach occurs most often in two ways: 1. A failure to perform in the property listing agreement between the broker and the seller. 2. A violation of terms in the sales contract between the buyer and the seller.

Contingencies in real estate contracts are the specific clauses in the contract that must be fulfilled by both the buyer and the seller, or provide a way to void the contract. For example, a current home sales contingency is often used when a buyer is making an offer on a home before selling the existing home. The buyer may need to sell the present home before being able to qualify and afford the purchase. Therefore, the offer is contingent upon the sale of the existing home. Key standard contingencies include home inspections, financing, and appraisal.

The Alienation Clause Due on Sale Clause is the specific verbiage in a mortgage or deed which asserts the lender’s option to force that the balance of the secured debt becomes immediately due and payable if the property is sold by the borrower, thus preventing the homeowner/borrower from assigning the debt without the lenders approval. Derived from the term “alienate”, which means to transfer or convey the title to a property from one party to another.

Exclusive Right to Sell is a common type of real estate listing agreement. A specific broker is given the exclusive right and authorization to market the sellers property. A key to this agreement is that if the property is sold while the listing is in effect, the seller must pay the broker a commission regardless of who sells the property. Therefore, this type of listing agreement offers the best opportunity for brokers to earn a commission. This is also known as an exclusive agency listing.

The Neuman & Neuman Team has guided 1,000s of people through the process of buying a Downtown San Diego Condo. If you have any questions or if you are interested in a Downtown San Diego Condo feel free to contact one of our team members and we would be happy to answer any questions you have.

[email protected]

1.800.221.2210

The Latest Headlines

Electra San Diego Market Updates

Electra – Market Updates Electra is Downtown San Diego’s tallest residential tower. Standing 43 stories tall, Electra is an easy building to spot in the Columbia District on the corner of Kettner......

read more

Fahrenheit San Diego Market Updates

Fahrenheit – Market Updates Perched artistically at the corner of Tenth Avenue and Island Avenue, Fahrenheit is more than a place to live, it has been constructed as an architectural experience. Only......

read more

Discovery San Diego Market Updates

Discovery – Market Updates Discovery is located on Beech Street between Eighth and Ninth Avenues. One block from the former El Cortez Hotel, this community was architecturally designed to compliment the historic......

read more

The Grande San Diego Market Updates

The Grande – Market Updates Located on the east side of Pacific Highway between B and C streets, The Grande is comprised of two 39 story towers, each with 221 residences. Designed......

read more

Park Terrace San Diego Market Updates

Park Terrace – Market Updates Across the street from PETCO Park and the Ball Park Village are the two towers of Park Terrace. These 223-unit mixed use buildings are 14 stories tall......

read more

Downtown San Diego August 2013 Events

Female Pro Surfing Competition – Ford Supergirl Pro     Aug. 2 Come out and see the very best that female surfing has to offer at the Oceanside Pier! The Ford Supergirl Pro presented......

read more

Solara Lofts San Diego Market Updates

Solara Lofts – Market Updates Solara Lofts have many unique loft spaces with custom bedroom designs using frosted glass track door systems. Solara loft kitchens include Vilchis Cabinets, granite counters and many......

read more

Downtown San Diego August 2014 Events

North PB Sip N Stroll Aug. 3 A community street fair in Pacific Beach showcases local businesses and provides patrons with an opportunity to sample beer & wine. In addition, there will......

read more

Bella Via San Diego Market Updates

Bella Via – Market Updates Bella Via is a 42-unit, 6-story condominium project located at the corner of India and Cedar Streets in the heart of Little Italy. Completed in 2004, Bella......

read more

Gaslamp Quarter San Diego Market Updates

Gaslamp Quarter – Market Updates Well known as the heart of downtown San Diego nightlife, the Gaslamp Quarter is comprised of a plethora of retail shops, upscale bars and taverns, business offices......

read more

Get Listings and Articles Delivered Straight to your inbox

  • This field is for validation purposes and should be left unchanged.