Home Sale Law in Alabama
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 it's possible in Madison County, 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 Madison County, 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.
Getting a Mortgage in Madison County, 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 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 should remember, however, that if they are not blameless in their failure to discover defects, they might not be able to recover if they sue.
In general, buyers of real estate have to conduct diligent inspections of property they wish to purchase. A failure to do so might prevent the buyer from recovering if they're injured by a defect which they could have discovered.
Can a Madison County, Alabama Real Estate Attorney help?
If you're in the process of purchasing a Madison County, Alabama home, the advice of an accomplished real estate attorney can make the process much easier, and help ensure that no surprises come up. This will give you the peace of mind to actually enjoy your new home, rather than worry about it.