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Virginia Real Estate Real estate transactions are governed by a wide body of federal statutes and Virginia state statutory and common law. The Federal Fair Housing Act prohibits discrimination in real estate transactions on account of race, color, religion, sex, or national origin. The agreement to sell between a buyer and seller of real estate is governed by the general principles of Virginia contract law. Before you buy a piece of property it is important that you make sure the owner has actual title. A local title insurance company can be used to investigate whether the title is, indeed, marketable. Title insurance companies also insure the buyer against losses caused by the title being invalid. In order to pass title, a deed with a proper description of the land must be executed and delivered. Some states require that the deed be officially recorded to establish ownership of the property and/or provide notice of its transfer to subsequent purchasers. The most common method of financing real estate transactions is through a mortgage. Buying a home can be a stressful time, whether it is your first starter home, the home of your dreams or an investment property. Having someone on your side who knows the right questions to ask and insures that you make the best decisions is essential. The law firm of Grenadier, Anderson, Starace, Duffett & Keisler, P.C. is here to support you through your real estate ventures.
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