Real Estate Sale Agreements - Thatcher Purchase Attorneys
Pitfalls When Selling Your Home in Thatcher, AZ
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 Thatcher, Arizona for individuals to buy or sell property on their own, this is not the only (or necessarily best) option. There are many intricate legal and financial issues involved, so the assistance of a professional is advisable.
Many individuals, families, and small businesses rely on real estate brokers to find property for them. Real estate brokers are professionals who help as middlemen or women between the buyers and sellers of real estate.
In Thatcher, Arizona, 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 Thatcher, Arizona
If the buyer asks the seller a question about the physical condition of the home, the seller is legally bound to answer it honestly. If the seller lies when asked a direct question, they have committed a serious form of fraud, and, if sued by the buyer, will incur substantialt liability.
There are some defects, however, that the seller should disclose whether asked or not. Usually, 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.
Of course, buyers are also expected to conduct due diligence. In a lawsuit for nondisclosure, courts won't reward a lack of diligence.
Accordingly, if a buyer fails to conduct a reasonable expectation of the property, he or she cannot recover for any harm caused by defects that such an inspection would have revealed.
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Can a Thatcher, Arizona Real Estate Attorney help with Real Estate Sale Agreements?
As you can imagine, there are many more legal and financial issues that can affect the outcome of a real estate transaction. However, buying a house is also a very exciting time for most people. A knowledgeable Thatcher, Arizona real estate attorney can help you focus on the positive aspects, and avoid dealing with the most difficult and tedious (but nonetheless necessary) aspects.