Waterford Real Estate Lawyers
Real Estate Law in Michigan
In Waterford, real estate law can affect just about anything involving the use, purchase, or sale of land and fixtures to land, such as buildings.
The massive volume of laws governing real estate in Waterford might seem overwhelming to the uninitiated. Indeed, they can get very complicated, especially when issues about title defects or construction disputes are involved.
Therefore, it's always good to have at least some knowledge of Waterford's real estate law.
Some understanding of the proper law can give you an advantage in almost any situation. In the real estate instance, it can help you spot illegal terms in lease agreements, give you some idea of what your rights are in a dispute, among other things. If nothing else, knowledge of the law can help you spot people who are willing to break it, so you can avoid dealing with them.
Common Real Estate Law Issues in Waterford
Financing: Most people are unable to make major real estate purchases in Waterford with cash, because few people have that kind of money on hand. Therefore, to buy real estate, most entities use a mortgage. This is a loan used to buy a piece of property. When the loan is issued, and the property purchased, the lender holds a security interest in the property until the loan is paid off, with interest.
Zoning: Zoning laws govern what types of structures can be built on given parcels of land. Usually, cities and towns are zoned in order to ensure that neighborhoods are clearly divided into residential, commercial, and industrial categories, to ensure that everyone who uses the land can make the best possible use of it, for their particular purpose
Duty to Disclose: If you're buying a house in Waterford, you have specific legal protections. The seller has a duty to tell the buyer about any defects that the property has. All defects which the seller knows about, and which the buyer can't be expected to discover through an ordinary inspection, must be disclosed. If the seller fails to disclose a defect, and the buyer later discovers it, the seller can be sued for any diminution in the property's value caused by the defect, the cost of repairing it, and any injuries the buyers suffers as a result.
Implied Warranties: Every lease of a residential unit in Waterford carries with it an implicit promise by the owner that the unit will meet some basic minimum standards for human habitability. There are many factors that go into determining if a unit is "habitable," but there are a few essentials, and they include running water, heat, electricity, and adequate shelter from the elements.
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Can a Waterford Real Estate Lawyer Help?
Because the issues discussed above can get complex for laypersons, if you have a real estate issue, such as an eviction, or a construction dispute, you should not hesitate to contact a Waterford real estate attorney ASAP.
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Life in Waterford
The beautiful city of Waterford, Michigan is the third largest township in the state of Michigan with just over 73,000 residents. The self-proclaimed "Lakeside Paradise" is located in Oakland County Michigan and was established in 1834.
Waterford is a city that has a lot to offer both residents and visitors alike. The city of Waterford is located in Oakland County, and its central location makes it a very easy city to live in. Wateford is located on 35.3 square miles and has lots of parks, trails, and other activities for people to enjoy. Additionally, the Oakland County International Airport is located in Waterford, making for easy access in and out of the city of Waterford.
Waterford has a thriving professional community with many talented doctor, lawyers, accountants, and businessman working in various capacities. Waterford lawyers are some of the best in the business, and many come from the University of Michigan Law School and settle to practice in Waterford. Whatever the legal issue is, a Waterfod lawyer is available to help!