Real Estate Sale Agreements - Jacksonville Purchase Attorneys
Pitfalls When Selling Your Home in Jacksonville, AL
Buying or selling a home is one of the most crucial decisions that most people make in their lifetime. It also involves some very complex legal and financial issues.
While it's possible in Jacksonville, Alabama for individuals to buy or sell property on their own, this is not the only (or necessarily best) option. There are many complicated legal and financial issues involved, so the assistance of a professional is advisable.
Accordingly, many people decide to go through a real estate broker when they're buying or selling a house. A real estate broker is a professional who serves as an intermediary between buyers and sellers. They can make the process much easier, helping deal with the tedious details and formalities.
In Jacksonville, Alabama, most real estate brokers are paid a commission, represented by a portion of the sale price of the home. Some might charge a flat fee, however.
Required Disclosures Concerning Property and Real Estate Sale Agreements in Jacksonville, Alabama
Any direct questions asked of the seller by the buyer must be answered truthfully. This is especially the case if the buyer asks about defects in the property. If the seller lies in response to such questions, they have just committed a very serious form of fraud. If the buyer later discovers this defect (after buying the property) he can sue the seller for any physical or financial harm caused by it.
There are some defects, however, that the seller should disclose whether asked or not. Typically, if the seller knows about any defects that are not readily apparent, he or she should disclose them to the buyer, whether or not the buyer specifically asks. This will greatly reduce the chances of the seller being held liable for any defects.
Buyers, however, are not off the hook in this matter. If they ignore defects that they could have easily discovered, they probably won't be able to recover for them.
Thus, buyers must inspect the property before they buy it. If they don't, they can't sue for any defects they later become aware of, if an inspection would have revealed those defects.
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Can a Jacksonville, Alabama Real Estate Attorney help with Real Estate Sale Agreements?
If you are buying a home in Jacksonville, Alabama, there are probably things you want to focus on other than paperwork and required inspections, such as the process of moving in, checking out schools, etc. A brilliant real estate attorney can make it much easier to focus on the aspects of home ownership that matter to you.