Home Sale Law in Alabama
Buying or selling a home is one of the most essential decisions that most people make in their lifetime. It also involves some very complex legal and financial issues.
While it's possible in Phenix, Alabama 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 Phenix, Alabama, real estate brokers are normally compensated with a percentage of the home's sale price.
Getting a Mortgage in Phenix, Alabama
If the buyer asks the seller a question about the physical condition of the home, the seller is legally required 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.
Moreover, most defects should be disclosed even if the buyer doesn't directly ask about them. Usually, defects which must be disclosed are those which are known to the seller, and which the buyer cannot be expected to find through a regular inspection.
Buyers should remember, nonetheless, 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 keep the buyer from recovering if they're injured by a defect which they could have discovered.
Can a Phenix, Alabama Real Estate Attorney help?
If you're in the process of purchasing a Phenix, Alabama home, the advice of an efficient 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.