Home Sale Law in Indiana

The decision to buy or sell a house, or other piece of real property, is very crucial. For most, it's one of the most crucial financial decisions of their life.

While there are no laws in Chesterton, Indiana against individuals buying or selling real estate on their own, this is rarely the best way to go, given the many legal issues surrounding the sale of property.

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 Chesterton, Indiana, most real estate brokers are paid a commission, represented by a portion of the sale price of the home. Some might charge a flat fee, however.

Getting a Mortgage in Chesterton, Indiana

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.

There are some defects which should be disclosed whether asked or not. Any defect which the seller is aware of, and the buyer can't be reasonably expected to discover before buying the house, must be disclosed.

Buyers, however, also have duties in this area. A buyer will not be rewarded for failing to exercise due diligence.

Thus, buyers must inspect the property before they buy it. If they don't, they can't sue for any defects they later become aware of, if an inspection would have revealed those defects.

Can a Chesterton, Indiana Real Estate Attorney help?

When buying a house, most people want to focus on the aspects that really matter to them, such as moving in. For that reason, it's highly desirable that the process of buying and selling a house goes as smoothly as possible. To that end, a good Chesterton, Indiana real estate attorney could be invaluable.