CHAPTER ONE
1.0 INTRODUCTION
1.1 BACKGROUND OF THE STUDY
In the minds of most people “financing” as its name implies conjure up visions of inexplicable exchanging of piece of paper which involves something called “interest” that take place generally anywhere.
Those who trail their interest in finance swiftly find out that you don’t have to go that level before getting involved in a financial transaction. The major brokerage houses have branches in most communities.
Furthermore there are usually commercial banks and savings institutions as well as microfinance banks and many communities, regardless of their various sizes. Infact, financial transaction can take place almost anywhere there is no need to go to a commercial bank. All you need is two or more populace.
Chika E Udechwuku (2008) says real estate financing is the process of acquiring funds or capital generally for the purpose of development in order to gain control over the property or assets there are two ways of classifying estate finance which tend to overlap themselves