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

Downtown San Diego April 2014 Events

Taste of Leucadia Apr. 3 Join the Community in celebrating the culinary flavors and local libations that make our Leucadia Main Street district so unique. Highlights our local restaurants, retailers, craft brewers......

read more

The Mills San Diego Market Updates

The Mills – Market Updates Located on Sixth and Seventh Avenues, North of Cedar Street, is The Mills. This one, two and three-bedroom loft community features 133 units on 6 floors. Three......

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

Investing in a Downtown San Diego Condo

Condo properties must surely be the investment of the future. Downtown San Diego Condo living is like having your own place but without the maintenance. It’s like swimming in the pool without......

read more

Downtown San Diego March 2014 Events

Finish Chelsea’s Run Mar. 1 Chelsea King was an avid cross country runner who tragically lost her life while on a training run at Lake Hodges. This 5K run/walk is held in......

read more

Meridian San Diego Market Updates

Meridian – Market Updates The Meridian is a luxury residential condominium development that offers panoramic city, bay, and ocean views. Amenities at Meridian include 24-hour security, men’s and women’s health clubs, guest......

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

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

Money making upgrades for San Diego Condo Owners

The warm and sunny seasons of spring and summer are still months away but owners of San Diego condos are already starting to come up with ideas in making sure that their......

read more

Horizons San Diego Market Updates

Horizons – Market Updates This downtown San Diego luxury condo is located in the beautiful Marina District, and has a wonderful family atmosphere. The Horizons East tower is packed with amenities that......

read more

Get Listings and Articles Delivered Straight to your inbox