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LSDefine

Simple English definitions for legal terms

net sale contract

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A quick definition of net sale contract:

A net sale contract is an agreement between a property owner and a real estate agent. The agent agrees to sell the property for a set minimum price, and any amount over the minimum is kept by the agent as commission. This type of listing is also called a net listing. It is different from other types of listings, such as exclusive-agency listings, general listings, and open listings. A net sale contract is a way for the agent to make more money if they can sell the property for a higher price than the minimum.

A more thorough explanation:

A net sale contract is a type of listing agreement in real estate where the agent agrees to sell the owner's property for a set minimum price, with any amount over the minimum being retained by the agent as commission.

For example, if a property owner sets a minimum price of $100,000 for their property, and the agent sells it for $120,000, the agent would keep the $20,000 difference as their commission.

This type of agreement can be risky for the property owner, as the agent may be motivated to sell the property for less than its true value in order to secure a higher commission. As a result, net sale contracts are not commonly used in real estate transactions.

net sale | net single premium

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General

General chat about the legal profession.
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medicine is a scam
join the ethically ambiguous legal field instead
Dkk
18:57
I want to meet an attorney that defends clients who run into flat earth problems. I want an attorney that knows and believes in flat earth theory.
19:05
i want a flat earther for president. i want a guy who posts on 4chan for president. i want someone who mogs for president.
Dkk
19:18
Exactly. My version of that awful poem.
Dkk
19:19
I can accept a president with maybe one or two of the poems traits hut good God, all of them??? No ty.
windyMagician
19:20
president who respects sex is crazy
windyMagician
19:20
we had bill clinton already
Dkk
19:21
Bill Clinton, first and last black president
windyMagician
19:23
I want to go running but my leg feels weird
windyMagician
19:23
it doesn't hurt its just tingly
Dkk
19:26
It needs more alcohol. You tingle when your nerves need watering.
19:27
try stretching it maybe to see what's up
windyMagician
19:27
stretches make me think it's just soreness
windyMagician
19:27
I'm sober lol
Dkk
19:38
Anyone else get the google notification that your LSD password has been compromised lol. LSD got hacked.
20:48
what.jpg @Dkk
CynicalOops
21:03
You think you just fell out of a coconut tree?
jackfrost11770
21:10
nope dk
CynicalOops
22:37
Calvinamala Harris
jackfrost11770
23:16
should i start using letterboxed again
Dkk
23:25
@jackfrost11770: if you want but like it aint for me
dk do u ever eat at bk
Dkk
23:48
@chickenburgahfart: I would do that in the Army if really desperate for food or if I had to work through lunch. One of the few fast food places I go to.
bk so slept on
Dkk
0:23
I will take In N Out everyday over it when I can though.
texaslawhopefully
1:22
In N Out is not only the best fast food place, but the prices too are fantastic
Dkk
1:27
Indeed, indeed.
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