Home Sale Law in Georgia
Buying or selling a home is one of the most crucial decisions that most people make in their lifetime. It also involves some very complex legal and financial issues.
Because of the complexity of these issues, most persons in Acworth, Georgia don't opt to sell real estate themselves, even though there are no laws barring them from doing so.
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 Acworth, Georgia, real estate brokers are normally compensated with a percentage of the home's sale price.
Getting a Mortgage in Acworth, Georgia
If the buyer asks a direct question concerning the physical condition of the property, the seller must answer it truthfully. Misrepresenting a material fact in a real estate transaction is a very serious form of fraud, and could give rise to significant damages against the seller.
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 discover it through a normal inspection, the seller must disclose it.
As a buyer, you should be aware that you have some obligations in this area, too. Buyers are expected to be diligent. Failure to do so might prevent the buyer from recovering in a lawsuit.
Accordingly, 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 Acworth, Georgia Real Estate Attorney help?
If you're in the process of purchasing an Acworth, Georgia 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.