Real Estate Sale Agreements - Maricopa Purchase Attorneys
Pitfalls When Selling Your Home in Maricopa, AZ
Buying or selling a home is one of the most critical decisions that most people make in their lifetime. It also involves some very complex legal and financial issues.
While it's possible in Maricopa, Arizona for individuals to buy or sell property on their own, this is not the only (or necessarily best) option. There are many complex 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 serve as middlemen or women between the buyers and sellers of real estate.
In Maricopa, Arizona, most real estate brokers are paid a commission, represented by a part of the sale price of the home. Some might charge a flat fee, however.
Required Disclosures Concerning Property and Real Estate Sale Agreements in Maricopa, Arizona
First if all, if the buyer asks any question about the condition of the real estate, the seller is absolutely obligated 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.
Furthermore, most defects should be disclosed even if the buyer doesn't directly ask about them. Generally, 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, nonetheless, are not off the hook in this matter. If they ignore defects that they could have quickly discovered, they probably won't be able to recover for them.
Therefore, 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.
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Can a Maricopa, Arizona Real Estate Attorney help with Real Estate Sale Agreements?
As you can imagine, there are many more legal and financial issues that can affect the outcome of a real estate transaction. However, buying a house is also a very exciting time for most people. A reputable Maricopa, Arizona real estate attorney can help you focus on the positive aspects, and avoid dealing with the most difficult and tedious (but nonetheless necessary) aspects.