property transaction

A property transaction is the legal process of buying or selling real estate, such as land or buildings. It typically involves several steps, including negotiations between the buyer and seller, agreeing on a price, and drafting a purchase contract. Due diligence, like inspections and title checks, ensures the property is in good condition and free of legal issues. Once all terms are satisfied, the transaction concludes with the transfer of ownership, often documented through a deed. This process is crucial for ensuring a fair, transparent, and legally binding exchange of property rights.