For example, the buyer and seller are principals in the purchase of real property. The borrower pays the premiums. This distinguished professional is committed to protecting and promoting private ownership of real property, establishing and maintaining high professional standards of practice, and creating unity in the National Association of Realtors organization and respect for the real estate profession. An agent who represents the seller and owes fiduciary duties to the seller. Usually referred to as the listing agent, this agent is authorized by a property owner to find a buyer or a tenant for the property.
Title is transferred from one party to another through a document called a deed.
A property interest held by one person for the benefit of another. A federal agency designed and operated to help veterans enter the housing market. The VA assists veterans in terms of low or no down payment, mortgage qualification assistance and low interest rates. A mortgage loan guaranteed by the US Department of Veterans Affairs against loss to the lender, and made through a private lender.