Question

Why is it hard to follow the process in real estate ? Explain in a paragraph .

Answer 1

The real estate process is complicated in itself when the rights involved in the unit of a property is to be transferred from one owner to the other in the process. The amount that is to be exchanged in the process also involves a lot of government regulations and are usually of high significant value. There are various conventions that come to play in the process, besides other requirements such as compliance to jurisdictions incidental to the real estate deals, etc. It further resorts to the Transaction costs. Often, a real estate broker is to be hired which further pushes the overall transaction cost of the real estate. Moreover, the real estate contract is also to be carefully defined and filed so that the contract is binding upon the parties in the deal. Further, the buying and selling process in real estate is lengthy and time-consuming affair. In this manner, owing the complicacy, legal requirements and time consumption components in the process of real estate, it is actually hard to follow the same.