Oklahoma City, Edmond and Deer Creek Area Neighborhood Information Covenants and Restrictions  Covenants and Restrictions are legal terms that outline an owners obligations imposed in a deed by the seller upon the buyer of real estate to do or not to do something. Such restrictions frequently "run with the land" and are enforceable on subsequent buyers of the property. Examples might be to maintain a property in a reasonable state of repair, to preserve a sight-line for a neighboring property, not to run a business from a residence, or not to build on certain parts of the property. Some covenants only prevent people from taking down trees, fundamentally altering places considered to have historical value or otherwise directly harming property values. Some determine what a homeowner can do to the exterior of the home. Most are written to encourage the increase or stability of the homes values. When you're buying a home, it's important to understand the restrictive covenants and other deed restrictions that are in place for the real estate you want to buy, because they dictate how you can and cannot use the property. The following link will allow you to search for more deatiled information on the most common neighborhoods. You can research Homeowner Association Bi-Laws, as well as Covenants and Restrictions of specific neighborhoods.  (Simply click on the "Return To Site" botton on the top right of your screen to return to our website at any time.) Since there are so many neighborhoods and some Covenants can be as long as 200 pages, not all will be available online. They can also be very complicated and sometimes contradictory because of changes in US laws as years go by. We have extensive knowledge of most neighborhoods and a collection of over 200 different area Covenants on file. If you have questions about a specific area, either listed or not listed, please feel free to email us. 
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Making An Offer >Keeping Your Earnest Money Safe
When you make an offer on a house, it is accompanied by an earnest money check. Earnest money is intended to demonstrate that you are "in earnest" about purchasing the property. The earnest money check is made out to the listing company. What happens to this check?
The party holding the check acts as an escrow agent until you go into closing. At that time you will receive credit for the amount of your check against the down payment and closing costs. Real estate brokers are required by law to keep escrow funds in a special account. These funds cannot be used to pay any other expenses associated with the sale. If you don't complete the transaction, the purchase contract determines the disposition of your earnest money funds. Be sure to review this part of your contract with the real estate agent.
If you are in default on your agreement, the funds may go to the sellers, so be sure that you understand the deadlines in order to avoid breach of contract and forfeiture of your deposit. If you have any questions, be sure to ask your real estate agent for advice.
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What tropical haven is back in vogue, attracting celebrities like Cher, Madonna, and Sylvester Stallone, who have homes here?
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Made up of 17 islands in Biscayne Bay, Miami Beach is the "American Riviera" and famous for its tropical beauty. |
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