Real Estate Law is governed by a wide body of federal statutes and state statutory and common law as the state jurisdictions have some unique differences in the content of their laws. Real Estate Law controls the proper working out of the listing agreement and transaction of the property between the seller and buyer. Buyers usually would employ a real estate broker to obtain buyers for their property and the broker has to define their commission, prepare the contract and find proof that the title of the property for sale is marketable. The prospective buyer has to hire a Real Estate Lawyer or Insurance Company which to investigate whether the title is, indeed, marketable and that third parties do have undisclosed interest in the title. The buyer may then be required to record the transfer of title or to give notice to subsequent bona fide purchasers.

The Federal Fair Housing Act prohibits discrimination in real estate transactions on account of race, color, religion, sex or national origin.

Sometimes, a buyer may choose to utilize a mortgage to finance the purchasing of a real estate property. The buyer will receive loan from the mortgage company which and will have to pay back the loan through monthly installment payments. If the borrower fails to pay the lender according to the terms in their contract, the lender may foreclose on the real estate and to sell it to pay off the loan.