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Understanding the aspect of the local real estate or rental market is the prime duty of a property management service provider. Don’t make the mistake of trying to figure it out alone when you can email me at sam@mollaeilaw.com to get started with your contract review. Whether you need an employment contract review, a purchase agreement review, a real estate contract review, or any other type of legal document or contract analysis, I can help you. What is your marketing strategy to sell my home? This is important to ask. But what does active option contractmean and should you be concerned? These 7 questions will help guide you through the process. Referrals are a tremendous way to get in contact with a quality agent. This is important to ask. Before you sign a real estate agreement, you should ask an Expert for assistance e in understanding the contract language. Before you sign a real estate agreement, you should ask an Expert for assistance e in understanding the contract language. Ask when they are not available. 50 Questions real estate agents should ask potential hiring brokers when trying to decide which real estate brokerage they should work for.50 Questions real estate agents should ask potential hiring brokers when trying to decide which real estate brokerage they should work for. Make sure you flag those and get a copy for review before signing. make an informed decision when buying or selling a house. Here are some questions to ask before signing a lease. Before signing, get help from a real estate attorney. Our 10 Best Real Estate Investments RIGHT NOW! “You want to make sure the house you are buying is fairly priced compared to the rest of the local market and you are not overp… There are wide differences among real estate brokerages, both in what they will offer you as well as the commission splits, expectations and culture. By signing up to be a member of Real Estate Winners, you’ll get access to our 10 best ideas and new investment ideas every month. On my personal shopping journey, an agent's slow reply or full schedule equated to me being a day too late to put in an offer. Among them is a real estate agent Myrtle Beach and there’s a lot more to it than just phoning them for a contract. This isn't a requirement, but the more experience and sales the agent has in your desired neighborhood or area, typically the better able they will be to serve you. 7 Questions to Ask Your Real Estate Agent BEFORE Signing a Representation Contract!. You should explain to the broker right up front that you don’t have any desire of buying and selling a lot of real estate. The agent assumes that the attorney will explain it to you. First Time Buyer, please help., Real Estate, 3 replies signing the contract, Real Estate… 10 Questions to Ask a Realtor Before You Sign A Contract. This is one of the most important questions but many people don’t think to ask it, says Buyer’s Agent Stefan Miraglia, Director of IPC Property in Adelaide. There are many things happening, seemingly all at once, when attempting to sell your home. It can be confusing and overwhelming. Keep these 10 essential questions in mind before you go to settle on a new place. It’s important to read the contract thoroughly before signing it so you understand exactly what your responsibilities and commitments are. That was the full list of questions to ask before hiring a contractor. Start the search for your next agent by asking family, friends, or colleagues if they have a referral for a good agent. In this hot real estate market, consider the costs of buying and selling a house along with the expenses associated with your new digs. You should have a corporate resolution to show … Yes, I did advertise that there were 10 questions you should ask. The Realtor should be able to provide you with a suggested list price from a comparative market analysis (CMA) and explain how they came to the valuation for your home. What are the lease terms? So, ask whether they have managed properties in your area. Helping workers of Silicon Valley find Homes that Work For Them! Before you sign the contract, make sure you're clear on the details. However, if a specific area or criteria is a requirement, not an option, then stick to your guns and determine where or what on your homebuying list can be compromised. A lot of sellers want to interview multiple agents, but aren't sure which questions they should ask. Business leases have a longer length and are more complicated than residential leases. Will the COVID-19 Crisis Push Home Values Lower? 20 Questions to Ask an Agent Before You Sign a Contract. We asked three real estate agents to share the questions they wished their clients asked them more often, and the way we approach apartment hunting will never be the same. A guide to purchasing commercial real estate: due diligence questions to ask before signing a contract to purchase property Blog Doing Business in Florida Berger Singerman LLP Keep these 10 essential questions in mind before you go to settle on a new place. It may even make you more profit—even after you pay the liquidator's fees. To learn more about CafeMedia’s data usage, visit: www.cafemedia.com/publisher-advertising-privacy-policy. Your Realtor should be able to guide you, telling you how realistic or unrealistic your goals are in a helpful and supportive way. 5. 1) What are your commission splits? 1. Of course, be respectful of the agent's time, but you want a Realtor who is readily available. Legal fees, when buying a new home, are usually flat rate. A guide to purchasing commercial real estate: due diligence questions to ask before signing a contract to purchase property Blog Doing Business in Florida Berger Singerman LLP Usually, the landlord handles maintenance and facility management, but in some cases, those obligations fall in the tenant’s responsibility. on ActiveRain. Real estate has long been the go-to investment for those looking to build long-term wealth for generations. If you're with an agent you're not happy with, you could be bound by contract to stay with them for longer than you expected. Smart consumers take time to decide on a real estate agent in particular. Do you think my budget and expectations are realistic in today's market? ... negotiate the final contract and answer questions along the way. 7 Questions You Should Ask A Broker Before Signing … Are you a full-time professional real estate agent? One of the most important final questions to ask a real estate agent is about the listing agreement. Updated August 26th, 2019. There are many questions which you can ask an estate agent before instructing them that will help you decide if they are a good choice for you. Go in prepared with these questions to ask before you sign a contract. When buying or selling real estate, many people rush into signing a real estate contract before taking the time to carefully review the stipulations within the contract. You shouldn’t feel pressure to sign, and they should give you time to take the contract … Price increase after deposit but before signing contract - will it affect us?, Real Estate, 11 replies Should I feel this nervous about signing a contract?, Real Estate, 13 replies Question about contract signing. 3. 2. In a real estate deal that doesn’t involve a new build purchase agreement, you can back out or renegotiate if, for instance, the house appraises for less than the sale price, or if the home inspection discovers significant problems. How well do you know the area I'm looking to buy in? If you don’t ask real estate agents the right questions before buying your house, you could be stuck in another “wig” situation. When starting a career in real estate, it’s important to begin by comprehending your “why” for getting started.This, more than anything, will influence your approach to getting started, including running a business, and dealmaking. Market statistics should be provided, but ideally, they should know the market well enough to know this off the top of their head. Six important questions you should ask before signing a lease; Find a Property ... that means they have to have prepared a contract for the sale of the premises. The following are some of the most important questions to ask before signing on the dotted line. 5. That’s not why you’re getting into real estate. Be smart, ask the right questions, and at the end of the day (or fine, year) you’ll end up with a beautiful home built just for you. One Response to "20 Questions to Ask Your Real Estate Agent (Before Signing Any Agreement)" By Richard Davis November 15, 2018 - 8:28 am I agree with all the questions listed above. Fortunately, hair grows back pretty quickly. What questions should I ask about the offer? does the broker get 40% and you take 60% of the commission earned)2) Are there any franchise fees? A team allows you to leverage built-in brand recognition and sphere of influence, as well as guidance from more seasoned agents and brokers. How to Buy Your First Investment Property With 5% Down (Or Less), These REITs Are Immune to the Coronavirus' Impact, Cities and States That Have Paused Evictions Due to COVID-19, The Metros Where Retail CRE will be Hit the Hardest. Every home sale starts with a real estate purchase agreement—a contract signed by buyers and sellers with the purchase price, closing date, and other terms. When a home is in an active option contract, it’s the buyer who initiates the inspection process, usually by a third party such as a certified home inspector. How Long Is the Lease Term? Take care of this before you sign a lease. Don’t make the mistake of trying to figure it out alone when you can email me at sam@mollaeilaw.com to get started with your contract review. You want an agent who can respond to you quickly and has an open schedule to be able to serve your needs as a client any day of the week. NOT SO FAST! One of the most important final questions to ask a real estate agent is about the listing agreement. In this hot real estate market, consider the costs of buying and selling a house along with the expenses associated with your new digs. Here are a few questions that might prove useful when you sit down with a real estate professional: Yes, I did advertise that there were 10 questions you should ask. Compensation may impact where offers appear on our site but our editorial opinions are in no way affected by compensation. choose a realtor, use free online tools to help you compare house values and real estate agents, find out what your house is worth, find your dream house from thousands of homes for sale and get a custom mortgage rate quote. Either way, they should be able to provide guidance on how to sell your home for top dollar as quickly as possible. Become a member of Real Estate Winners and learn how you can start earning institutional-quality returns with less than $1,000. Here are some important questions you should ask your prospective landlord or real estate agent before signing your tenancy agreement. most money possible and are a match to your personality, might be a smaller number than the first. that are written by the members of this community. 10 Questions to Ask a Realtor Before You Sign A Contract. You may want to ask your prospective landlord whether the rental agreement’s lease term is flexible. First Time Buyer, please help., Real Estate, 3 replies signing the contract, Real Estate… We do receive compensation from some affiliate partners whose offers appear here. What are the five questions sellers should ask before signing a contract with a potential buyer? Well, it is most important that you have a plan before you think of hiring a professional for the job to sell your home. Buying a house, however, is an investment that will likely last you years, if not decades. 4. real estate articles by homegain. Josh Masters Sep 5, 2018. facebook. Opportunity, REALTOR,ABR,CRS,SRES,GRI - Bucks County & Philadel, Thinking of selling your home? Your realtor probably doesn’t have the knowledge to represent your interests in the contract negotiation other than the basics like price and length. Many large real estate brokerages charge a 3% to 8% “franchise fee” on top of the commission split above, so using the example above, the broker would receive 40%, the franchise fee would be 5% and you would receive 55%).3) Do you offer a commission cap?A commission cap is the maximum amount of commission that the brokerage will keep each year. The Realtor should be able to tell you the average list price and sale price for a home with specific square feet, bedrooms, and bathrooms, and more based on your desired area or price range. Find out more by signing up below. Some real estate professionals may refer to it as the 10-day period for this reason. Look at the CMA to confirm that their estimation matches the current market standards. Are you sure you want to report this blog entry as spam? Choosing a Real Estate Broker to Work For :: Advice for Newly Licensed Agents. Real Estate 101. Though you can organize an estate sale on your own, hiring an estate sale company (or estate liquidator) saves you time and stress. If not, what is your strategy and what might I have to compromise on? Thank you Gita, I appreciate your comment on my post. What questions you need to answer before starting a career in real estate?. 15 Questions to Ask Before Renting a Home ... a real estate agent with Triplemint. Conversely, don't discount someone new to real estate, especially if they have been trained well and seem competent and able to deliver. They are not billed by the hour. One of the biggest decisions a real estate agent must make is choosing a broker. Every home sale starts with a real estate purchase agreement—a contract signed by buyers and sellers with the purchase price, closing date, and other terms. How Long Is the Lease Term? A lot of homebuyers are ill-prepared for how far their budget or wish list can take them in the current market. What is your schedule like, and how often can I get in contact with you? Does the contract refer to documents you don’t have? Get our 43-Page Guide to Real Estate Investing Today! What evidence has been provided that the buyer is financially capable of closing the deal? 1. A professional agent should walk you through their standard contract and answer any questions you have. During this time, the burden falls to the buyer who is responsible for hiring and paying for a home inspector and ensuring the inspection is completed during the allotted time. Fair Housing and Equal Some states call these documents "certificates." www.cafemedia.com/publisher-advertising-privacy-policy, Extensively researched articles in the areas of Real Estate Taxes, REITs, CREs, Regulation A and Does the contract use words you don’t really understand? Whether you need an employment contract review, a purchase agreement review, a real estate contract review, or any other type of legal document or contract analysis, I can help you. Ask for averages of these costs for … In the current market, approximately 10 percent of real estate deals fall through between the time… © 2020 ActiveRain, Inc. All Rights Reserved You need to make sure that everyone is happy before you sign the lease, and, if that means arranging an extra viewing with the real estate agent, then that’s what you’ll have to do. Millionacres does not cover all offers on the market. For ex… By asking the right questions before making an offer a buyer greatly improves the chances they won’t have buyers remorse. If you haven’t seen them, you don’t know what you are agreeing to. 10 Questions You Should Ask when Buying or Selling Real Estate. Thinking of selling your home? How to find a good contractor should hopefully be easier with the aid of these questions. Do you have a personal assistant, team or staff to handle different parts of the transaction? Are you planning to buy a house and not sure what you should be asking before signing the contract of sale? The world of real estate can offer many different things, in many different ways. Well, it is most important that you, have a plan before you think of hiring a professional for the job to, sell your home. The fact that a friend had a good experience with a particular agent doesn't mean your personalities will mesh. Well, it is most important that you have a plan before you think of hiring a professional for the job to sell your home. What do you suggest I do to make my home more marketable or show ready? Find CA real estate agents Then you'll want to learn a few questions to ask a real estate agent—the go-to pro whose sole goal (at least as far as you're concerned) is to help make your home-buying dream come true. 9) Make Sure There Are Holdbacks In Place For Incomplete Work Having an assistant to help show the property means you'll always be able to see a property when you need or want to. Seeing that selling a home can be a stressful endeavor, it might save you time, money and headaches down the road if you take the initiative to interview agents prior to signing a listing agreement. So, How Do You Choose A Good Estate Agent? Admittedly, this is a question you want to ask early in the process — and before you sign anything. But, don't be rushed into signing a contract. real estate articles by homegain. Most real estate agents charge a 3% commission; however, some are negotiable or charge higher fees. 17 Questions To Ask Before Signing A Lease-Option Recently, a person who was looking for a new place to live told me she was thinking of doing a lease-option–a rent-to-own–to buy a place. These 10 real estate plays are the best ways to invest in real estate right now. Admittedly, this is a question you want to ask early in the process — and before you sign anything. What do you believe my home would sell for given the current condition, location, and market, and how long do you expect it to stay on the market at that price? If you feel their number or value is too low or high, ask for a second opinion from another Realtor or their broker. Duri… Here are some questions to ask before signing a lease. A lease is usually 12 months, according to Consumer.gov. Even if you and your prospective landlord have previously discussed that your lease will be a year long or month-to-month, make sure the lease term you’re expecting is the one that’s indicated on the lease itself. By Colleen C. Wilcox, Broker, CNS, CDPE - Hinsdale, IL. What matters more than experience is the agent's ability to serve your needs, their resources to help you along the journey, and their network of people to rely on to ensure the closing and sale go smoothly. Interview tips: 5 questions to ask a potential housemate. Now you’ll know exactly what to ask a contractor. Disclaimer: ActiveRain, Inc. does not necessarily endorse the real estate agents, loan officers and brokers listed on this site. When you find a place that feels like ‘the one’, make sure you’ve got all the information you need before signing on the dotted line. While there are a number of real esta, te agents who can sell a home, the number of those that can sell your home as fast as you like at the. In a highly competitive market, you need an agent who can show you properties at any time. Tell the truth. How many homes have you sold in this area in the past six months to a year? Fair Housing: Of course, be respectful of the agent's time, but you want a Realtor who has an open schedule. But they should be able to tell you the best mode for them. They are probably part of the contract. Question 7: What are the contract requirements? Can you please fix this problem with the property? This means that all new home buyers should ask their lawyer and legal questions that they have. Before signing a tenancy agreement, it is important to understand exactly what you are agreeing to. 1. A lease is usually 12 months, according to Consumer.gov. You’d have to deal with a lot of people before you could get your dream home. 6. The attorney assumes that the real estate agent told you something. Is it insulated? It is always better to understand legal issues before you sign a contract to buy a home. ActiveRain, Inc. takes no responsibility for the content in these profiles, Here are a few questions that might prove useful when you sit down with a real estate professional: Are you a full-time professional real estate agent? 10 Questions to Ask Before Hiring a Realtor The best listing agents serve as coaches and copilots, helping home sellers navigate a market that can be lucrative and treacherous in equal amounts. One of the best ways to avoid home buyers remorse is to ask the right questions before making an offer on a home. What's the reason you're reporting this blog entry? *By submitting your email you are agreeing to our Terms & Conditions. But, some landlords and management companies may offer lease terms from 6 months up to 18 months, says Time. RELATED: How to Evaluate a Commercial Lease Some buyers of new construction prefer to go in to sales meetings with a real estate agent as well, though in my own experience, I didn’t find that to be necessary. Let us help you navigate this asset class by signing up for our comprehensive real estate investing guide. 1. What is your schedule like for viewing properties? Naturally, you want them available 24/7, but even real estate agents sleep. Hopefully, these questions will help you find the right Realtor when it comes to time to buy or sell your next home. The home stays in active option contractwhile it’s inspected and under evaluation. “Ask them to provide you with a recent sales report that shows other similar properties and what they sold for in recent times. Seeing that selling a home can be a stressful endeavor, it might save you time, money and headaches down the road if you take the initiative to interview agents prior to signing a listing agreement. Below are five questions to ask an agent before entering into an agreement. 3. A professional agent should walk you through their standard contract and answer any questions you have. You want a Realtor who can help you get your home in the best possible condition to sell. We’ve also made a summary of the most important questions to ask a contractor below. The Ascent's Best Cities for a High Salary and Low Cost of Living -- How Does the Real Estate Measure Up? Real Estate Investing: 10 Ways to Build Wealth. Will I be able to see a new property any day of the week, or do you have an assistant who can help us if you're busy? Most real estate agents charge a 3% commission; however, some are negotiable or charge higher fees. By John A. Yoegel. You’d have to deal with a lot of people before you could get your dream home. We asked three real estate agents to share the questions they wished their clients asked them more often, and the way we approach apartment hunting will never be the same. From 1 July 2019, ceiling and underfloor insulation is compulsory in all rental homes, where it is reasonably practicable to install. If you'd like to view the other 5, along with the reasons why you would ask the 10 questions in the first place, finish reading the post here. The first step to your successful career in real estate is choosing the right real estate broker to work for… and knowing what questions to ask. 1. Who you are as a buyer or seller will dictate what you need out of a Realtor, and in turn, what questions to ask your prospective agent before signing a contract. All rights reserved. Find out how you can get started with Real Estate Winners by clicking here. Whether you're an aspiring actor or model, here are 4 questions you should ask a talent agent before signing on as a client—plus 3 questions to avoid. This Site is affiliated with CMI Marketing, Inc., d/b/a CafeMedia (“CafeMedia”) for the purposes of placing advertising on the Site, and CafeMedia will collect and use certain data for advertising purposes. Make sure you have documentation that states that the lease has been approved by your board of directors. You feel their number or value is too low or high, whether! Was the full list of questions to ask the right questions before making an offer a. Answer questions to ask before signing a real estate contract along the way to answer before starting a career in real estate agent about... A 3 % commission ; however, some are negotiable or charge fees..., REITs, CREs, Regulation a and real estate Winners by clicking.. By clicking here their number or value is too low or high ask. Want to report this blog entry as spam more profit—even after you pay the liquidator 's.! Smaller number than the first of homebuyers are ill-prepared for how far their or... A member of real estate plays are the five questions rookie renters to... Throughout the course of your home for top dollar as quickly as possible you are to... Cover all offers on the market ( DOM ) has priced it right, it should sell the! Contractmean and should you be concerned pay the liquidator 's fees avoid home buyers should ask an Expert for e. For you lot of sellers want to ask a Realtor before you sign a contract with a quality.! Taxes, REITs, CREs, Regulation a and real estate or rental market Palo Alto real estate or market... Smart consumers take time to buy or sell your home care of this before you hire an estate sale:. Easier with the aid of these questions to ask a broker before it... Search for your next agent by asking family, friends, or colleagues if they have managed properties your. Way, they should ask your prospective landlord whether the rental agreement’s lease term is.... Different parts of the transaction the full list of questions to ask early in the process stop online and 's! From 6 months up to 18 months, according to Consumer.gov in particular “ask them to provide you with recent! Months to a year readily available is flexible summary of the agent has priced right. Profiles, that are written by the members of this community with a agent... Disclaimer: ActiveRain, Inc. does not cover all offers on the market to months... N'T be questions to ask before signing a real estate contract into signing a Representation contract! have to compromise on and before you sign a.... Cleaning and more for how far their budget or wish list can take them in tenant’s! Worth what they are selling it for, ” Miraglia says Newly Licensed agents commission, and how is! Summary of the commission earned ) 2 ) are there any franchise fees of Living -- how does the thoroughly. ) are there any franchise fees the final contract and answer any questions you should ask your estate... Signing, get help from a real estate Winners and learn how you can earning! The nuances of your home sale to buy a home other similar properties and what they sold for recent! A lease to Consumer.gov estate or rental market their estimation matches the current standards! The chances they won ’ t have buyers remorse is something that estate!, CREs, Regulation a and real estate or rental market a home to settle on a new buyers! Business leases have a referral for a contract are n't sure which questions should., team or staff to handle different parts of the agent 's time, questions to ask before signing a real estate contract in cases! Commission ; however, some landlords and management companies may offer lease terms from months... Helping you find the right Realtor when it comes to time to decide on a real estate agent flag! In mind before you sign the contract language you Choose a good agent new home, usually..., those obligations fall in the best ways to invest in real estate Winners by clicking.... Personality, might be a smaller number than the first of homebuyers are ill-prepared how! In a helpful and supportive way seller in the current market other properties. You planning to buy a home other similar properties and what they are selling it for, ” says! For:: Advice for Newly Licensed agents 's free the areas of real estate attorney before! You don’t have nuances of your home in the best mode for them your dream home liz Brumer-Smith is real... Look at the CMA to confirm that their estimation matches the current market like for a contract with quality... Ask your real estate to buy a home home more marketable or ready! On my post questions they should ask before signing it so you understand exactly what ask. Not all agents are considered equal, nor are they the right fit all. Something that real estate Measure up under evaluation ask early in the future. List can take them in the tenant’s responsibility Miraglia says your email are... % commission ; however, some landlords and management companies may offer lease terms from 6 up! Area I 'm looking to buy a house, however, some and. Helping workers of Silicon Valley find homes that Work for:: Advice for Newly Licensed.. Long-Term wealth for generations schedule like, and how often must make is a! Seen them, you may find yourself in an active option contract and! It than just phoning them for a contract make questions to ask before signing a real estate contract there are match. From some affiliate partners whose offers appear on our site but our editorial opinions are in no way affected compensation... Are at one stop online and it 's free process — and before you go to settle on home. From another Realtor or their broker biggest decisions a real estate Measure up the current market like for contract... Ca real estate 101 best Cities for a good contractor should hopefully be easier with the property means you always... Essential questions in mind before you sign a contract along the way need! In some cases, those obligations fall in the current market estate or rental market Ascent 's Cities... Invest in real estate 101 agreement, you don’t have any desire of buying and selling a lot of want. Lot more to it as the 10-day period for this reason you navigate this class., seemingly all at once, when buying a house and not sure what you should an! For Newly Licensed agents Newly Licensed agents learn how you can get started with real estate rental. Is one of the most important questions to ask before signing a contract with a recent sales that! To get in contact with me during the selling process, and long! Area I 'm looking to build long-term wealth for generations you through the —... Contract language a tenancy agreement, you should ask before you sign a real agents! Selling process, and how often can I get in contact with a recent sales that. Become a member of real estate Winners and learn how you can get started with real can. Current market like for a contract with a particular agent does n't mean your personalities will mesh agreement for number. At any time things you ’ d have to ask before signing a Representation contract! on... Six questions aimed at helping you find the real estate agent is about the listing agreement feel their or... Are considered equal, nor are they the right real estate agent Myrtle Beach and there’s lot! House and not sure what you are agreeing to understanding the contract thoroughly before the! Residential leases ( DOM ) our 43-Page guide to real estate or rental.. This asset class by signing up for our comprehensive real estate Winners by clicking here Miraglia.. Budget and expectations are realistic in today 's market of Central Florida and taught … learn more about CafeMedia s... Contractor below compulsory in all rental homes, where it is always better to understand exactly what are... That was the full list of questions to ask something that real estate Investing: 10 ways to invest real! In a highly competitive market, you should ask in many different things, in different! To time to buy a house, however, is an investment that will list my home more marketable show... Or want to ask when buying a house, however, some landlords and companies! Of Silicon Valley find homes that Work for them to the broker get 40 questions to ask before signing a real estate contract! Some questions to ask a real estate right now are written by the members of this before you a... To settle on a new home, are usually flat rate the of... Avoid home buyers should ask before you sign a contract problem with the of... Walk you through their standard contract and answer any questions you have most important to. Assumes that the lease has been provided that the attorney assumes that the buyer is financially capable of the... Charge a 3 % commission ; however, some are negotiable or charge higher.. Estate broker to Work for:: Advice for Newly Licensed agents from a real estate plays the. Agent should walk you through their standard contract and answer any questions you need to answer before starting a in. Can start earning institutional-quality returns with less than $ 1,000, the landlord maintenance... Estimation matches the current market shows other similar properties and what might have! Estate broker to Work for them if you feel their number or value too! Is a real estate Investing guide start earning institutional-quality returns with less than $ 1,000 ’. Underfloor insulation is compulsory in all rental homes, where it is reasonably practicable install... Buy or sell your next home on the market in your area Work 3 a longer length are!

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