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Some Further Evidence on the Price of Mortgage Contingency Clauses

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Abstract

A sample of row houses is used to investigate the price effects of mortgage contingency clauses in sales contracts. The results indicate a substantial price premium is associated with such contingencies, with the size of the premium indifferent to other transaction-specific variables.

Suggested Citation

  • Kenneth M. Lusht & J. Andrew Hansz, 1994. "Some Further Evidence on the Price of Mortgage Contingency Clauses," Journal of Real Estate Research, American Real Estate Society, vol. 9(2), pages 213-218.
  • Handle: RePEc:jre:issued:v:9:n:2:1994:p:213-218
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    File URL: http://pages.jh.edu/jrer/papers/pdf/past/vol09n02/v09p213.pdf
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    References listed on IDEAS

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    1. Asabere, Paul K & Huffman, Forrest E, 1993. "The Impact of Settlement Period on Sales Price," The Journal of Real Estate Finance and Economics, Springer, vol. 7(3), pages 213-219, November.
    2. Donald Haurin, 1988. "The Duration of Marketing Time of Residential Housing," Real Estate Economics, American Real Estate and Urban Economics Association, vol. 16(4), pages 396-410.
    3. Paul K. Asabere & Forrest E. Huffman & Seyed Mehdiany, 1992. "The Price Effects of Cash versus Mortgage Transactions," Real Estate Economics, American Real Estate and Urban Economics Association, vol. 20(1), pages 141-154.
    4. John M. Clapp & Carmelo Giaccotto & Dogan Tirtiroglu, 1991. "Housing Price Indices Based on All Transactions Compared to Repeat Subsamples," Real Estate Economics, American Real Estate and Urban Economics Association, vol. 19(3), pages 270-285.
    5. Jacob Belkin & Donald J. Hempel & Dennis W. McLeavey, 1976. "An Empirical Study of Time on Market Using Multidimensional Segmentation of Housing Markets," Real Estate Economics, American Real Estate and Urban Economics Association, vol. 4(2), pages 57-75.
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    Cited by:

    1. Andres Jauregui & Alan Tidwell & Diane Hite, 2017. "Sample Selection Approaches to Estimating House Price Cash Differentials," The Journal of Real Estate Finance and Economics, Springer, vol. 54(1), pages 117-137, January.
    2. Ramya Aroul & J. Hansz, 2014. "The Valuation Impact on Distressed Residential Transactions: Anatomy of a Housing Price Bubble," The Journal of Real Estate Finance and Economics, Springer, vol. 49(2), pages 277-302, August.
    3. repec:kap:jrefec:v:56:y:2018:i:4:d:10.1007_s11146-017-9609-0 is not listed on IDEAS

    More about this item

    JEL classification:

    • L85 - Industrial Organization - - Industry Studies: Services - - - Real Estate Services

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