Home Sale Law in Colorado
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 no Fort Morgan, Colorado 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.
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 Fort Morgan, Colorado, brokers typically receive compensation in the form of a percentage of the sale price of the home.
Getting a Mortgage in Fort Morgan, Colorado
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.
There are some defects, however, that the seller should disclose whether asked or not. Usually, if the seller knows about any defects that are not readily apparent, he or she should disclose them to the buyer, whether or not the buyer directly asks. This will greatly reduce the chances of the seller being held liable for any defects.
Buyers, nonetheless, also have duties in this area. A buyer will not be rewarded for refusing to exercise due diligence.
Buyers have to conduct reasonably-diligent inspections of land they want to buy. If they refuse to do so, they can't sue for any defects which they could have easily discovered.
Can a Fort Morgan, Colorado Real Estate Attorney help?
If you're in the process of purchasing a Fort Morgan, Colorado 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.