The houses for sale process can involve a simple transaction where an interested buyer, likes the house and purchases it directly from the seller for cash. For more complex transactions, several interested parties are involved. The sellers, potential buyers\’ and two real estate agents, one representing the sellers\’ interest and one the buyers are usual participants. A loan source, an independent entity providing services for legal ownership transfer also play a part.

The house, the product being sold can be described as a structure built for the purpose of human habitation. It may be occupied or vacant during the selling process. All houses are designed with various rooms for specific purposes. Bedrooms, bathrooms and kitchens are examples. Wood, or brick are material forms used in the house frame.

The decisions to sell a property vary. The homeowner may be moving for employment purposes to another location. Another reason can be deciding to buy a bigger house or a smaller one.

The decision to buy a home also involves varying factors. The potential buyer may be moving into the area. There could be an increase in family size requiring more room or a first time purchaser. Getting married and starting a family could also be a factor.

When the decision is made to sell a house many owners employ the services of a real estate agent to assist with the process. The selling agent represents the interests of the seller and expects to be paid a commission if the house gets sold. The potential buyer can also employs the services of an agent. The buyers\’ agent represents the interests of the buyer and also expects to get paid if the property is bought by his or her client.

Selling agents provide details about the home to potential buyers directly or through their agents by providing listing information. This would include the property address, sales price and the year the house was built. The type of rooms and how many, for instance number of bedrooms and bathrooms is revealed. Any information on appliances like fridges and stoves are included and any additional remarks pertinent to the property is made known.

If an offer is made by an interested buyer and accepted by the seller, a legally binding contract is formed. Details would include a specific date to close the deal and transfer ownership. The buyer would then contact the provider of the loan or provide the funds for a cash deal. The buyer may also request a home inspection and the loan provider will have the property appraised to determine the current market value. A settlement agent would be chosen as an independent arbiter to ensure ownership is legally transferred from seller to buyer.

Houses for sale transactions can be simple or fairly complex. There are two principal sides to the transaction. Several possible interested parties can be involved including sellers, buyers, sellers\’ agents, buyers\’ agents, loan providers and settlement officers. All interested parties have a stake and interest in ensuring a smooth set of transactions, with the ultimate goal of transferring ownership from one party to the other.

Author Bio: Find luxury Toronto homes and luxury condos for sale Toronto with Slavens & Associates, showcasing the best Toronto real estate listings, Forest Hill real estate and Rosedale real estate.

Category: Real Estate
Keywords: Real Estate, houses, homes, new homes, condos, moving, storage, mortgage, home inspector, home