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Real estate has always been the hottest topic when it comes to investment. Before the problem of economy arises, it has been the most profitable industry in the world. Without a doubt, a lot of people would like to try how this work fits them. With the commissions that a person can earn from the real estate world, it is really a lucrative business. However, before you can become a real estate agent one would need to have a license.

 

Understanding the Real Estate Law

 

The first requirement in obtaining a real estate license is the age. One must be at least 18 years old in order to qualify for a license. Then one must be at least a high school graduate. This is quite expected since people would be expected to learn real estate law to get a license. Once again, it is important that one knows real estate law since there will be a written exam on it. One has to pass the exam to get the license. Go to http://boyajianlaw.com/#!about-us for more details. 

 

The Fundamentals of Real Estate Law

 

The two types of real estate are either commercial or residential. When we speak of commercial real estate, it is a sale or a lease of property for some commercial or proprietary use. On the other hand, the residential real estate refers to the selling or leasing of the real property. The law was heavily regulated in residential real estate than the commercial real estate. It was habitually practiced that the real estate law demands a protection to home buyers by requiring a truth in statement from the sellers. In other words, the seller is obliged to disclose all the problems relating to the house being sold. Failure of disclosing such issues like the presence of termites, or there is a hole in the roof could render the purchase agreement void. The seller could also be sued for fraud. Real estate law may differ from state to state. But in many states, there is an inspector that is required so that all problems can be determined.Therefore, an inspector is required to solve the issues.

 

Not all homeowners can pay cash in full, most of them seek help from a financial institution. In return, the lending institution will get a security interest. This is where the business comes in.

 

Like any careers, a part of the deal is fixed by the Real Estate Law. Being a legitimate transaction, it protects the sellers, the purchasers and the lending institutions or any establishments of similar kind. Visit http://boyajianlaw.com/ to get started.