In most home or real estate purchases there may be a very challenges but most things is to work through it if you want to get that home brought, according to Jeff Lowe, Bridgeport Realtor. You want to try anticipate as many potential problems as possible as early as possible so that if something does go wrong, you can cancel the contract without penalty. These are called “contingencies” and you must be sure to include them when you offer to buy a home.
Contingencies basically give you excuses to get out of the deal because of potential problems or defects later discovered.
For example, some “move-up” buyers often agree to purchase a home before selling their previous home. Even if the home is already sold, it is probably a “pending sale” and has not closed. Therefore, you should make closing your own sale a condition of your offer. If you do not include this as a contingency, you may find yourself making two mortgage payments instead of one.
Other common contingencies you should include in your offer for your real estate purchase, getting proper financing, home passing inspection, the property gets appraised at a certain price. During the escrow period you are likely to require certain inspections, and another contingency should be that it pass those inspections.
Basically, contingencies protect you in case you cannot perform or choose not to perform on a promise to buy a home. If you cancel a contract without having built-in conditions and contingencies, you could find yourself forfeiting your earnest money deposit. So its best to sit down with your real estate agent, some one like Jeff Lowe and figure out all your conditions and contiguencies to adequately protect yourself.
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In the state of California today, voters will get a chance to vote on a measure which would allow the state to tax marijuana dispensary $50.00 for every $1, 000.00 they are able to generate. The tax is believed to bring in about $10 million dollars to the state which could help to pay for basic needs like funding the police, fire and for other essential services. It will be interesting to see if this measure passes or not. If so it could pave the way for the legalization of marijuana in the state in the next election.
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A federal judge in Virginia declared the foundation of President Obama’s health care law unconstitutional because the government cannot require Americans to purchase insurance. No court, according to the judge, had expanded the Commerce Clause of the US Constitution to allow the government to regulate a person’s decision not to buy a product. In this case, health care.
In his order, he said he will allow the law to remain in effect while appeals are heard, meaning there is unlikely to be any immediate impact on other provisions that have already taken effect. The insurance coverage mandate is not scheduled to begin until 2014.
While two other federal judges have upheld the law, the conflicting ruling is going to eventually be settled by the Supreme Court.
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If you didn’t watch 60 Minutes last night you missed an unbelievable interview with Supreme Court Justice Stevens. The interview gave you an insight into the Court and most of all how amazing Justice Steven is. It covered the inter working of the Supreme Court, the Justice personal life and his love for sports.
And for those Baseball lovers out there, it even cover the great Babe Ruth and his shot at center field at Wrigley Field. The Justice who was attending the game confirmed that the Babe pointed at center filed prior to hitting his famous home run at center field.
Make sure you look for this interview and watch it. It was truly amazing.
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Yesterday, the Senate confirmed Elena Kagan as associate justice to the United States Supreme Court. The 63-37 vote was mostly along party lines. Kagan is set to begin a lifetime position as the nation’s 112th justice. She will be sworn into office Saturday afternoon, taking the traditional constitutional and judicial oaths. The newest justice will then be able to assume her court duties immediately.
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The Supreme Court has trimmed the now familiar Miranda warning. The rulings will change the ways police, lawyers and criminal suspects interact amid what experts call an attempt to pull back some of the rights that Americans have become used to over recent decades.
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The new health care law could become a paperwork nightmare. The piece of legislation has a requirement that could become a paperwork nightmare for nearly 40 million businesses.
Businesses must file tax forms for every vendor that sells them more than $600 in goods.
The goal is to prevent vendors from underreporting their income to the Internal Revenue Service. The government must think vendors are omitting a lot because the filing requirement is estimated to bring in $19 billion over the next decade.
It remains to be seen for congress can work together to fix this.
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Supreme Court nominee Elena Kagan began her nomination process this week as she began her congressional hearings. Today the Harvard grad carefully responded to Republician questioning her record in an attempt to find a reason to block her nomination to the high court.
President Barack Obama’s nominee soldiered through her second day of testimony on Capitol Hill apparently in good shape to win Senate approval — barring a major gaffe — in time to take her seat before the court opens a new term in October. If confirmed, Kagan, 50, would succeed retiring Justice John Paul Stevens.
The Senate Judicial committee called Kagan back Wednesday for a second and likely final day of questioning.
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A 19 year old student is suing her former high school for an illegal search that they conducted on her cell phone. The former female student alleges that school officials invaded her privacy and violated her free-speech rights when they confiscated her cell phone, found semi-nude photos stored inside and turned the phone over to authorities.
The lawsuit alleges that the trouble began after a teacher confiscated the cell phone of the student, identified in the suit only as N.N., when she broke school rules by making a call on campus in January 2009.
She was later called to Principal Gregory Ellsworth’s office, suspended for three days and told that her cell phone had been turned over to authorities after Ellsworth found semi-nude and nude photos inside, the lawsuit says.
When other students at the same high school were caught allegedly sending nude and semi-nude photos on their cell phones last year, the Wyoming District Attorney General gave them a similar choice: taking re-education classes or facing charges.
The lawsuit says N.N.’s photos were never printed, distributed or uploaded on the Internet and were intended to be seen only by the student and possibly by her long-time boyfriend.
The lawsuit seeks damages, reimbursement for the re-education course she was required to take and the deletion of any stored copies of the photographs.
As technology continues to expand and enter into our lifes, new and more interesting types of cases will emerge to address those new advances.
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After nearly 11 hours to combative exchanges, Senators and the leaders of Goldman Sach returned to their respective corners to fight another day. It isn’t clear who got the better off the other in this public round of debate.
If the stock price of Goldman Sach is an indicator then the company came out ahead as the stock rose $1.01 per share, to $153.04. Other would argue that the stock was due to go up after dropping from the $180 per share levels just a few weeks ago.
Some of the things that came clear from today’s interplay is that Gold is stating that the people that they were dealing with that is at the core of the SEC fraud charges – were institutions and not your regular “Joe”. Institutions with a high level of knowledge about the markets and who possessed knowledge about the market. So they know what they were doing and Gold just accommodated or created an environment for them to make their trades.
The other argument that Gold made was that the short selling was just a byproduct of their risk measures. They take action from institution and avoid too much risk they edge their bets to offset their risk.
It will be interesting to see how things play out in the public arena as well as in the court.
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