Muskegon Home Buyers
...real estate made easier, with a friend at your side.

How Purchasing a Home Works - The Actual Process

Tuesday, 29 January 2008 16:01 Posted by: Tammy Halterman
A Typical Home Purchase Transaction
Buyer
The buyer is the person buying the home.

Seller
The seller is the current owner of the property who is selling it.

Real Estate Agent
Real estate agents are responsible for bringing together a buyer and a seller in a transaction. This is where the "point of sale" occurs — buyer and seller sign the purchase agreement, often without the aid of a lawyer, although the assistance of a lawyer is recommended.

Mortgage Lender
The mortgage lender provides money for the purchase in return for getting a mortgage or charge on the land and future interest payments.



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Comments

July 18. 2009 00:28

Hi,

WOW , Real estate transaction is the process whereby rights in a unit of property (or designated real estate) is transferred between two or more parties, e.g. in case of conveyance one party being the seller(s) and the other being the buyer(s). It can often be quite complicated due to the complexity of the property rights being transferred, the amount of money being exchanged, and government regulations....

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