Home Sale Law in Rhode Island

When you are about to buy or sell a home, there are numerous things that must be considered, not the least of which being the many legal and financial decisions you have to make.

While it's possible in Johnston, Rhode Island 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 Johnston, Rhode Island, 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.

Getting a Mortgage in Johnston, Rhode Island

First if all, if the buyer asks any question about the condition of the real estate, the seller is absolutely required to answer it truthfully. If the seller provides any false information about the condition of the property, and the buyer buys it and later finds out, they can sue the seller for any harm caused, and the diminution in the house's value.

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.

Buyers, however, also have duties in this area. A buyer will not be rewarded for failing to exercise due diligence.

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.

Can a Johnston, Rhode Island Real Estate Attorney help?

When buying a house, most people want to focus on the aspects that really matter to them, such as moving in. For that reason, it's highly desirable that the process of buying and selling a house goes as smoothly as possible. To that end, a good Johnston, Rhode Island real estate attorney could be invaluable.