Home Sale Law in Indiana

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

While there are no laws in Greenfield, 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.

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 Greenfield, Indiana, brokers typically receive compensation in the form of a percentage of the sale price of the home.

Getting a Mortgage in Greenfield, Indiana

First if all, if the buyer asks any question about the condition of the real estate, the seller is absolutely required to answer it truthfully. If the seller provides any false information about the condition of the property, and the buyer buys it and later finds out, they can sue the seller for any harm caused, and the diminution in the house's value.

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.

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 Greenfield, Indiana Real Estate Attorney help?

If you're in the process of purchasing a Greenfield, Indiana 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.