There are three basic documents in a sale of land: the contract for sale, the deed, and (if needed) a mortgage. A mortgage is a debt instrument which “secures” a debt; in Missouri, the mortgage is almost always in the from of a deed of trust. Essentially, the deed of trust is a type of…
Legal Articles
Real Estate Contracts Offers & Contingencies
It’s important to remember that after combing through all of the home listing and finally settling on a home that you feel confident in, that the offer you place on the home vests in the seller of the home the power to accept the contract and thus creates a legally binding contract. A surprising amount…
Real Estate Contracts: Seller's Disclosure Statement
In any contract for the sale of a good there has to be a full and complete disclosure of the character and nature of the good being sold. This is particularly true when it comes to residential and commercial real estate because of the myriad of issues present with real estate. Therefore, the seller in…