The dream of owning a real-estate business has become a reality, but how do you get started?
Here are six steps to getting started.
Get a realtor’s license.
The process can take up to two years, depending on the jurisdiction in which you live.
You will need to obtain a realtors license, which is typically issued by a state agency.
You may also need to register as a realty agent, a person who deals with real estate transactions.
Apply to the state.
To obtain a license to operate a real property, you must first apply to the Virginia Department of Consumer and Business Services (DCSBS) for an application to register with the agency.
After that, you will need an official certificate of title, or title certificate.
The title certificate, or a copy of it, will be issued to you by the state of Virginia.
Apply for a building permit.
You’ll need to apply to a building inspector to apply for a permit to construct a building.
The application will be completed by the building inspector, who will issue a building license to the applicant.
The building license is valid for a maximum of three years.
If you have any questions, please call 1-800-777-2409 or visit the DCSBS website.
Build the building.
Once you have obtained a building’s license, you’ll need the approval of the building board, the governing body of the jurisdiction.
The board decides whether or not to grant or deny a building a building certificate.
This is done through a process known as a zoning review.
The zoning review process is similar to the building permit process, except that the zoning board approves building permits and then requires the applicant to go through a more extensive review process.
Build and install the building on the property.
Once the building is built, it will be the property owner’s responsibility to provide all necessary utilities and maintenance to the property and maintain the building as it is.
If any problems occur, the owner of the property can either notify the building’s operator, or the owner’s property manager, and a building inspection will be conducted.
The owner will then be required to pay the property manager and the building owner for any maintenance costs that are incurred by the owner during the construction of the house.
The inspector will then determine if the property is structurally sound and if there are any defects in the structure.
Sell the property to the owner.
The sale of the real estate to the buyer is typically approved in a process called a title transfer.
This process requires the owner to apply through the local building commissioner.
This will include obtaining a building lease from the local land board.
The local land commissioner then approves the sale of that property.
The city or county will then purchase the property from the buyer.