Real Estate Purchase and Sale Agreements in Weld County, Colorado
Pitfalls When Selling Your Home in Weld County, CO
Buying or selling a home is one of the most important decisions that most people make in their lifetime. It also involves some very complex legal and financial issues.
While no Weld County, Colorado law prohibits people from buying or selling land on their own, this is not always the best idea. There are many complicated issues that can affect the outcome of a property sale or purchase.
Many individuals, families, and small businesses rely on real estate brokers to find property for them. Real estate brokers are professionals who serve as middlemen or women between the buyers and sellers of real estate.
In Weld County, Colorado, 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 in Weld County, Colorado
If the buyer asks a direct question concerning the physical condition of the property, the seller must answer it truthfully. Misrepresenting a material fact in a real estate transaction is a very serious form of fraud, and could give rise to significant damages against the seller.
There are some defects which should be disclosed whether asked or not. Any defect which the seller is aware of, and the buyer can't be reasonably expected to discover before buying the house, must be disclosed.
Of course, buyers are also expected to conduct due diligence. In a lawsuit for nondisclosure, courts won't reward a lack of diligence.
Generally, buyers have a duty to conduct a reasonable inspection of the property before buying it. Therefore, buyers usually can't recover for defects that could have been discovered via reasonable inspection, unless the seller actively conceals them.
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Can a Weld County, Colorado Real Estate Attorney help?
If you are buying a home in Weld County, Colorado, 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 good real estate attorney can make it much easier to focus on the aspects of home ownership that matter to you.