Whether buying or selling a home, the real estate transaction process can seem overwhelming and confusing. Who are the people involved, and what is each person’s role in the real estate transaction process? What does a real estate transaction actually mean?
A real estate professional will assist with questions and concerns along the way, but knowing who is involved and what to expect will alleviate many potential worries.
What Is a Real Estate Transaction?
A real estate transaction is the process that occurs when a seller offers their home for sale, and a buyer agrees to purchase that property.
There are many steps involved in buying a house, and the steps vary depending on the type of transaction and state regulations. Before the closing can take place, and before the title of the property transfers to the buyer, a multitude of activities and tasks must be completed on time.
The real estate agents involved are primarily responsible for these tasks; however, the buyer and seller must complete their tasks expeditiously.