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Real Estate: Basics


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Real Estate is...
... property consisting of land and the buildings on it, along with its natural resources; and, more generally, buildings or housing in general; the profession of buying, selling, or renting land, buildings or housing
Real Estate Includes:
Land, above and below the earth's surface, plus all things permanently attached to the land,
Real Property includes:
Interests, benefits, and rights that are automatically included in the ownership of land and
Land
the earth's surface. Extends downward to the center of the earth with subsurface rights, and stretches
The characteristics of real property include:
Physical: immobility,indestructibility, non-homogeneity, or uniqueness. Economic: Scarcity, location improvements, permanence of investment.
Financing
the business of providing the funds that make real property transactions possible through
Property development
Involves splitting a single property into smaller parcels,subdividing and constructing
Counseling
Involves independent advice based on sound professional judgment
Education
Provides real estate information to practitioner and consumer alike.