insurance company or an attorney is often employed by the buyer to
investigate whether the title is, indeed, marketable. Title insurance
companies also insure the buyer against losses caused by the title being
In order to pass title, a
deed with a proper description of the land must be executed and
delivered. Some states require that the deed be officially recorded to
establish ownership of the property and/or provide notice of its
transfer to subsequent purchasers.
The most common method of financing real
estate transactions is through a mortgage.
The Federal Fair Housing Act prohibits
discrimination in real estate transactions on account of race, color,
religion, sex, or national origin. See
42 U.S.C. §§ 3601-3631. Real estate brokers are specifically prohibited
from discriminating by the act.
The agreement to sell between a buyer and
seller of real estate is governed by the general principles of contract
law. The Statute of Frauds requires that contracts for real property be
|Buying a House
Before you look
for a house, it's essential to determine how much you can afford to pay
and what your financing options are. You'll also need to define your
housing priorities and understand how to easily find homes that meet
your needs. Even if you think you've found your dream home, you'll need
to master the ins and outs of house inspections and making offers. An
attorney can help you find your way through the housebuying maze.
you're selling a home, you need to time the sale properly, price the
home accurately and understand the laws (such as disclosure
requirements) that cover house transactions. An attorney can help you