Homes and Proprty

new house for sale
Real estate generally refers to property of land and all the structures therein such as buildings and natural resources.
There is mainly two categories, namely residential and commercial. Residential refers to land or property which has housing units on it such as homes or apartment buildings for leasing out to residents. This type is not for lease to businesses but residential purposes only. Examples include town homes, condominiums, apartments, terraces houses among others. Commercial is for leasing out to businesses. This type is useful to investors who want to set up a business but do not have enough money to buy a building upfront. Examples of this type of include office buildings, malls and industrial parks.

As we said earlier, real estate is basically property, and property has two basic classifications namely personal and real. Personal property is any movable property except land whereas real property basically is the immovable property. Real property includes land and any immovable improvements to it through human efforts. Examples include buildings, dams and machinery.

sales agentAn individual who represents a buyer or a seller in the exchange transaction of a real estate is a real estate agent. The services of an agent are usually at a fee agreed between him/her and the home seller. Agents carry out activities like negotiating prices on behalf of the client and showing property to potential buyers. The term for sale by owner often refers to a home owner selling their house without the help of a real estate company or agent. Agents often suggest that the property be inspected by a nuisance wildlife professional for things such as bats in the attic and others pests before purchasing. companys such as
Bat  Solutions llc who specialize in bat removal in lansing Michigan

More on this subject at http://www.realtor.com

Home ownership is where an individual buys a home instead of living in a rental house. The advantage of home ownership is that the owner does not pay any rent as in a leasing system. Although it is advantageous, the prices of houses are very high to pay at once hence most people opt to take a home loan in form of mortgage. A mortgage is a debt instrument which a creditor charges a debtor as a collateral to a loan usually taken to purchase a house or the land to construct one. A mortgage is beneficial to individuals as home loan companies.

home loanTypes of loans include the fixed-rate and the variable-rate. The fixed-rate loan is one which the interest rates do not change hence the monthly payments are predictable. This type of mortgage is popular as the predictability of the monthly payments and the simplicity of the mortgage helps the debtor plan the payments and budget his money with ease. The variable-rate mortgage is that which the interest rates of the mortgage are prone to change, Change in the interest rates causes the monthly payment to change too. This type of home loan is usually cheaper than the fixed-rate. The variable-rate mortgages often have ‘teaser rates’ where the rates of the mortgage at a certain time will be lower than the interest rates in the market before going up to reach the going market rates. Lenders usage of teaser rates is a way in which which lenders use to lure borrowers into choosing variable-rates rather than fixed-rate mortgages.

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