Making a real estate transaction, involves many pros and cons. Real estate transaction is nothing but a process of exchange of real estate between two or more par ties. Here one person is called as the seller and the other person is called as the buyer. Some people simply transfer huge amount for real estate without understanding, the lender. When you are buying a land or real estate, first give a good preference for the owner. Understand his background and his nature. Find a good broker who can act as a mediator between you and him.
Real estate transaction also involves risks of real estate transfer tax. When you buy a property government takes certain amount from you. This tax rates generally vary from country to country and state to state. So when you are going to buy a land, try to pay good tax for the government, don’t try to take your black money and make a deal with owner. This is because illegal business won’t fetch good results. If you do everything legally your property will be immovable for long duration. When you go for government rules they help you in getting a property at cheap rate from seller. This is because government valuates a buyer’s income and based on that income, they ask seller to sell the property. Government also provide loans at a cheaper rate for sellers, it removes all risks involved in buying a real estate.