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 people in Fulton County, 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 Fulton County, Georgia, brokers usually receive compensation in the form of a percentage of the sale price of the home.
Getting a Mortgage in Fulton County, Georgia
Any direct questions asked of the seller by the buyer must be answered truthfully. This is especially the case if the buyer asks about defects in the property. If the seller lies in response to such questions, they have just committed a very serious form of fraud. If the buyer later discovers this defect (after buying the property) he can sue the seller for any physical or financial harm caused by it.
Most significant 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.
Buyers, however, are not off the hook in this matter. If they ignore defects that they could have easily discovered, they probably won't be able to recover for them.
Buyers have to conduct reasonably-diligent inspections of land they want to purchase. If they fail to do so, they can't sue for any defects which they could have easily discovered.
Can a Fulton County, Georgia Real Estate Attorney help?
If you're in the process of purchasing a Fulton County, Georgia home, the advice of an experienced 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.