Residential Real Estate:Buying and selling of any property which is concerned with Residential purpose such as individual houses, apartments etc is termed as Residential real estate. If you want to buy a building for your residential purpose, before buying such property, you have to analyze whether the property will fit to the zoning rules and regulations. You can buy the building for your own residential purpose, or you may buy it for leaving rent. Before buying such property if the seller grants you a period of time to purchase the property, you can pay the option fee to the seller and make a written agreement with the seller that you would buy the property within the stipulated period of time. It is safe to put an agreement with the seller, because it acts as a shield and protects you from the third party from buying or selling it. In order to sell or buy a property the buyer and the seller of the residential estate have to approach the real estate broker or agent. Consult a Real estate attorney to solve any disputes as to the buying and selling of the residential property is concerned. |
