Structures used for shelter and habitation are one of man’s basic and important needs. Thus, such inherent need for shelters became one of the most lucrative and profitable businesses today. In fact, according to one article, real estate agents—people who sells real property—earns a yearly income of $102,310 in New York alone. However, the amount doesn’t say the same to how much real estate agents earns annually from other states like Ohio, where real estate agents only earn $41,650 yearly. The disparity is caused by a variety of factors with varying cost of housing from state to state being one of the top reason. Yet, despite the variation of income among real estate agents and varied cost of real property, the industry will still continue to flourish as more and more people will still buy more homes, in the future.
What is Real Estate?
Real estate is a piece of real property that includes land and the structures on it like houses or buildings, natural formations such as ponds and mounds, and fixtures such as roads. These properties are protected by the law and any transactions involving such should be publicly documented through different kinds of documents and forms. Real estate may also apply to residential buildings, commercial spaces, and industrial complexes. The term is also synonymous with the word real property and is used interchangeably.
Types of Real Estate Property
The types of real estate property varies according to use and purpose. Some of them might be used as family dwellings, while some will be used in the pursuit of profit. Real estate properties also come in different shapes and sizes, and, can be owned by natural person or a business entity. But, regardless of they’re used and despite the difference between them, real estate of every kind are still available for purchase and lease in the market’s listings. Listed below are the types of real estate properties.
Residential properties are properties that are designed and intended to be used as a space for living or dwelling. It could either be a single-family dwelling such as normal suburban house and an apartment complex shared by more than one tenants. Residential properties are the most common types of properties sold by realtors and brokers in the real estate market.
Commercial property are parcels of land or buildings designed for commercial purposes. These type of properties are commonly used as shops, food establishments, and even as small factories. Commercial properties are usually rented or lease by interested individuals and are rarely sold or bought.
Industrial properties are types of real property that are intended for industrial applications. Industrial property includes factories, warehouses, piers, and plants. These properties are intended to boost a territory’s economy and also process raw materials to be used in other fields and industries.
A Real Estate Brokers Biggest Challenge: The Manhattan Mansion
A mansion seated in 854 Fifth Ave, Manhattan, which was modeled after the Versailles Palace—six stories high, sitting in a 20,000-square-foot property—was listed in the real estate market in April of 2017 for 50 million dollars. The property was nearly purchased by a co-founder of an investment company when the deal eventually collapsed due its co-owners failing to agree on the selling price. The said property, until this day, is still in the real estate market’s listing.
The property used to be a owned by the now defunct Republic of Yugoslavia when its government purchased in 1946, intending to use it as an embassy in New York. In 1963, Yugoslavian leader Josip Broz Tito as a hideout after an assassination attempt failed to get him. But what made the property into what it is now today was because of Yugoslavia’s dissolution into different countries in the 90’s.
Today, the Manhattan Mansion is owned by five countries from Eastern Europe, namely, Bosnia, Croatia, Macedonia, Serbia and Slovenia. The split makes the selling of the property difficult due to political disagreements and post-war hostility among five countries. It took nearly a decade for the governments to negotiate and decide on the fate of the Mansion.
As the countries begin to have some of the former republic’s overseas possessions and property sold, the mansion still remains unsold as the finding someone willing to purchase the property for 50 million dollars also remains a big challenge.
FREE 53+ Real Estate Forms in PDF | MS Word | Excel
Real estate forms are used in a variety of functions from applying for mortgage, paying off liens, and applying for a new house. And, each functions also has its own forms to be used to accomplish each of them. Listed in this article are a variety of real estate forms that you can download for free and use immediately for your use and purpose.
1. Residential Real Estate Form
2. Real Estate Agent Contract Form
3. Real Estate Transfer Statement Form
4. Real Estate Application Form
5. Real Estate Certificate Form
6. Real Estate Affidavit Form
7. Real Estate Agreement Form
8. Real Estate Sales Disclosure Form
9. Real Estate Property Form
10. Real Estate Complaint Form
11. Real Estate Validation Form
12. Real Estate Rental Statement Form
13. Real Estate Data Change Form
14. Real Estate Contract Form
15. Real Estate Evaluation Form
16. Standard Apartment Lease Form
17. Real Estate Legal Form
18. Real Estate Tax Form
19. Simple Real Estate Form
20. Standard Real Estate Form
21. Real Estate Purchase Form
22. Seller Real Estate Disclosure Form
23. Real Estate Condition Form
24. Real Estate Property Release Form
25. Real Estate Exemption Form
26. Real Estate Sales Validation Form
27. Seller Disclosure Statement Form
28. Real Estate Schedule Form
29. Real Estate Agreement Form
30. Real Estate Transfer Declaration Form
31. Real Estate Form Sample
32. Real Estate Agency Leasing Form
33. Real Property Receipt Form
34. Exclusive Property Agreement Form
35. Commercial Property Contract Form
36. General Real Estate Property Form
37. Real Estate Property Complaint Form
38. Real Estate Condition Report Form
39. Real Estate Claim Form
40. Real Estate Seller Form
41. Real Estate Collection Placement Form
42. Real Estate Closing Statement Form
43. Purchase Real Property Form
44. Real Estate Lease Form
45. Real Estate Registration Form
46. Real Estate Agent Agreement Form
47. Real Estate Mortgage Form
48. Real Estate Housing Form
49. Real Estate Client Intake Form
50. Property Return Form
51. Real Estate Request Form
52. Property Transfer Payment Form
53. Property Profile Form
54. Property Update Form
How to Submit a Real Estate Forms
Real estate, believe it or not, is as important as food and water themselves. It is the all encompasing term that we can quickly translate to something as simple as shelters and homes. So if you’re planning to get yourself a cozy home or conducive infrastructure to house your brand, here are the steps on how to fill-out and submit real estate forms.
Step 1. Select and Download a Real Estate Form
First, Choose and download the specific real estate form from a list found in this article. Real estate form come in different varieties, each for a particular purpose and function. So, make sure to choose the right form for your needs and purpose. Then, click the download button right beside the form’s thumbnail.
Step 2. Fill-out the Form
Next, after selecting and download the right real estate form for your needs and purpose, you can now proceed with filling it out. To begin, fill the spaces with the information that is asked for. Most real estate documents will usually ask for information such as personal information and employment history. And, make sure to write that information as correctly as possible.
Step 3. Print and Sign the Form
Then, Print the real estate form after completely filling it with the information that it asks. You can use your home or office printer for this purpose. After printing the real estate form, affix your signature on the signature block found on the bottom part. Signing the form signifies that the person submitting it provided the correct and accurate information written in the form.
Step 4. Prepare Supporting Documents
After answering and printing the form, the next thing to do is to prepare the supporting documents required in submitting the form itself. The common documents required for submitting your real estate form are billing statements and most government-issued identification documents. Put the document along with the form in a single envelope and aptly label it. Doing so allows you to immediately identify it as yours.
Step 5. Submit the Form and Supporting Documents
Lastly, submit the form along with the supporting documents to your real estate agent or broker. Submitting the forms and supporting documents allows your real estate agent or broker to process it as quickly as possible—whether submitting an application or fulfillment of the lien. But before that, you must first check the form and documents to make sure you’re bringing the correct ones.
Mortgage – Is a loan agreement where the creditor lends money to the borrower in exchange for its property as collateral.
Lien – It is the right of the creditor to keep possession of the borrower’s property until the debt is paid.
Property – Are structures or land owned or belonging to someone.
Residential Property – Are properties intended and designed for people to live in.
Commercial Property – Are properties intended and designed for commercial purposes like shops and office spaces.
1. What is real property?
Real property is an immovable property integrated or fixed to the land such as houses, buildings, and other structures. These properties also include the fruits and produce of the land as well as other fixtures such as pathways and water formations. Real properties are the types of properties that your real estate agent or broker sells.
2. Are property rentals part of real estate?
Yes, they are. Aside from selling residences and commercial spaces, real estate firms are also engaged in providing spaces for rent to those who can’t afford to buy their own spaces yet. Another thing related to rentals that real estate firms offer is leasing. Leasing is another way of temporarily using or occupying a space without actually owning it. However, unlike renting, leases usually are for long-term usage and occupancy.
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