Home Sale Law in California
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 no Los Altos Hills, California law prohibits people from buying or selling land on their own, this is not always the best idea. There are many intricate issues that can affect the outcome of a property sale or purchase.
Therefore, it's typically a good idea to use a real estate broker for these transactions. A real estate broker is a professional who helps people buy and sell property. They can help buyers find sellers, and vice versa. They can also handle a large percentage of the tedious details.
In Los Altos Hills, California, real estate brokers are normally compensated with a percentage of the home's sale price.
Getting a Mortgage in Los Altos Hills, California
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.
Most substantial defects (those which have any effect on the value or safety of the home) should be disclosed even if the buyer doesn't ask about them. If the seller knows of a defect, and a reasonable buyer wouldn't be able to know it through a normal inspection, the seller must disclose it.
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.
Therefore, if a buyer fails to conduct a reasonable expectation of the property, he or she cannot recover for any harm caused by defects that such an inspection would have revealed.
Can a Los Altos Hills, California Real Estate Attorney help?
Buying a house can be an exciting, but challenging, experience. Most home buyers want to focus on the positive aspects that come with home-ownership, and ignore the tedious paperwork and legal issues. A reliable Los Altos Hills, California real estate attorney can enable this.