Real Estate is, by definition, the land and everything that .
is a part of it and the extent of one's interest in it. The .
word real in real estate stands for the fact that it is land .
and different than personal property. It is real property, .
property that is more or less immobile. The word estate in .
real estate stands for the interest that one has in the .
property. This definitions shows that real estate is a .
different sort of property. It is property that may be .
legally yours but it is still not your personal property. .
Real Estate is land and property that can be acquired, .
owned or transferred by both individuals and business. .
There are rules and regulations to follow when performing .
any one of those actions. These rules and regulations .
become very important when discussing the balance in real .
estate. But what is real estate? Real estate is the .
process of purchasing real property and the problems and .
steps that one must follow through with. .
Elements of Real Estate .
I.Home .
When buying a new house there are many things that must be .
solved before the deed can be signed to the proud new owner. .
Page 2 .
Very few people have the financial means of making a .
one-time full payment on a home. The price of living has .
increased and so has the prices for homes. For many, the .
only outlet to buy the house of their dreams is to go and .
find a mortgage to finance their home. .
The first thing the prospective homeowner does is go to his .
bank and try to find a loan that is large enough and has the .
right interest rate that he can use to buy a house that he .
wants and can afford. In order to get the loan the future .
owner must establish credit. He will be asked about income, .
employment history and credit history. All of these .
variables allow the bank to determining whether or not this .
person will ever fully pay for the mortgage. Once the .
loanee has established credit for the loan the amount of .
money paid on each payment and the amount of time allowed to .