How does real estate get sold?

Two parties have to find each other and enter into a contract that both of them find satisfactory. The seller is looking for someone who is ready, willing and able to buy his property for sale. The buyer is looking for a piece of property that comes as close as is practicable to what he wants.

In some cases the two parties find each other on their own without the help of a third party. They must successfully navigate through the process of agreeing on price, terms and conditions for a purchase and sale to take place.

In other cases, one or both parties use an agent, a licensed real estate practitioner, to help them find each other, get on the same page, and move through the contractual process to a satisfactory closure.

Both scenarios, whether or not an agent is used, requires the services of a lawyer to make sure the buyer gets good title to the property and to close the deal.  In Georgia, only licensed attorneys close real estate transactions.

And so, the seller is looking for a qualified buyer, and the buyer is looking for a property that meets his or her criteria as nearly as possible. The process usually involves advertising of the property for sale.

The seller can advertise the property at his or her own expense, or let a Realtor advertise it free of charge. The Realtor will try to find a buyer for the property in order to recoup his or her expenses, which include but are not limited to advertising expenses.

In a nutshell, that’s how real estate gets sold. Your comments are invited.