Thursday, June 29, 2006
The sale and rental of land and houses to individuals and families for daily living comes under the category of Residential real estate. The sale of residential property is a great deal synchronized. All states require real estate agents and brokers, who earn a commission from the owner of real estate for selling the property, to be licensed.
Nearly all purchases of residential real estate call for the buyer to get hold of a mortgage from a bank or other lending institution, which receives a security interest on the real estate, which means that if the borrower defaults in paying back the mortgage, the institution can get hold of title to the property and resell it to pay off the mortgage debt.
0 Comments:
Post a Comment
<< Home