Home Sale Law in Georgia
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.
Because of the complexity of these issues, most persons in Newnan, Georgia don't opt to sell real estate themselves, even though there are no laws barring them from doing so.
Therefore, 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 procedure much easier, helping deal with the tedious details and formalities.
In Newnan, Georgia, 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.
Getting a Mortgage in Newnan, Georgia
If the buyer asks a direct question regarding the physical condition of the property, the seller must answer it truthfully. Misrepresenting a material fact in a real estate transaction is a very significant form of fraud, and could give rise to significant damages against the seller.
There are some defects which should be disclosed whether asked or not. Any defect which the seller is cognizant of, and the buyer can't be reasonably expected to discover before buying the house, must be disclosed.
Buyers, nonetheless, also have duties in this area. A buyer will not be rewarded for refusing to exercise due diligence.
Usually, buyers have a duty to conduct a reasonable inspection of the property before buying it. Therefore, buyers typically can't recover for defects that could have been discovered via reasonable inspection, unless the seller actively conceals them.
Can a Newnan, Georgia Real Estate Attorney help?
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 reliable Newnan, Georgia real estate attorney can help you focus on the positive aspects, and avoid dealing with the most difficult and tedious (but nonetheless necessary) aspects.