Real Estate Transactions and Contracts

Real estate transactions involve the buying, selling, or leasing of property. A contract in this context is a legally binding agreement that outlines the terms of the transaction, including price, property details, and conditions for completion. Key elements include disclosures about the property's condition, financing arrangements, and timelines. Both parties must agree to the terms, and usually, a title search ensures clear ownership. Real estate law governs these transactions to protect the rights of buyers and sellers, ensuring fairness and legal compliance throughout the process. Understanding these basics helps navigate real estate dealings confidently.