What is Real Estate?

Real estate is the term used for land and anything that is permanently affixed to it. Fixtures include buildings, fences, and things attached to buildings, such as plumbing, heating, and light fixtures. Property that is not affixed is regarded as personal property.

Real estate is a legal term that encompasses land along with anything permanently affixed to the land, such as buildings. Real estate is often considered synonymous with real property , in contrast with personal property . However, for technical purposes, some people prefer to distinguish real estate, referring to the land and fixtures themselves, from real property, referring to ownership rights over real estate.

Category of Real Estate
• Residential property
• Commercial property
• Equities
• Government bonds
• Corporate bonds

Since the 1970s, home buyers have been given additional protection under the law. Many states and municipalities require a seller of real estate to file a truth-in-housing statement. A seller must disclose any problems with the home, such as a wet basement or the presence of termites, on the form. Failure to disclose this information can result in the revocation of the purchase agreement or a lawsuit by the buyers against the seller for fraud. In addition, some laws require an inspector to visit the property to determine if there are any problems.

Most purchases of residential real estate require the buyer to obtain a mortgage from a bank or other lending institution. The lending institution receives a security interest on the real estate, which means that if the borrower defaults in paying back the mortgage, the institution can obtain title to the property and resell it to pay off the mortgage debt.

Real Estate Agent
Real Estate agents are the mediator between buyers and seller of the property or Real-estate. You deal with face to face with real state agent when buying or selling property. These are the people on the front lines of the real-estate market and perform such tasks (amongst others) as showing homes to perspective buyers and negotiating transactions on behalf of their client. An agent must have a state license and be supervised by a real estate broker.

Most agents are completely dependent upon commissions from sellers for their income, so it pays to find out which side the agent represents (buyer, seller or both) before you place too much trust in the agent's opinion. Real-estate agents often work on a commission basis, their income dependent upon their ability to find property suitable for their clients and closing transactions.

For more details on Real Estate see our What is Real Estate? Page.Visit our http://www.halfvalue.com/ and http://www.halfvalue.co.uk/ web sites for more info.