A real estate transaction is a process where a seller offers a home for sale and a buyer agrees to purchase it. At a very basic level, the process involves a number of tasks and activities before closing can occur and the property is officially transferred to the buyer. Many actors are involved in a real estate transaction and could include:
• Real estate attorney
• Real estate broker
• Real estate agent
• Seller
• Buyer
• Mortgage lender
• Home inspector
• Title company
Who is involved and how the process flows is often dependent on state law and regulations.