Home Sale Law in Kansas
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 Edwardsville, Kansas 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.
One good way to help a real estate sale or purchase go smoothly is to hire a real estate broker. These professionals can help you find the right house within your budget, or help you find suitable buyers for a house you're selling.
In Edwardsville, Kansas, brokers usually receive compensation in the form of a percentage of the sale price of the home.
Getting a Mortgage in Edwardsville, Kansas
If the buyer asks the seller a question about the physical condition of the home, the seller is legally bound to answer it honestly. If the seller lies when asked a direct question, they have committed a serious form of fraud, and, if sued by the buyer, will incur significantt liability.
Furthermore, most defects should be disclosed even if the buyer doesn't directly ask about them. Generally, defects which must be disclosed are those which are known to the seller, and which the buyer cannot be expected to find through a regular inspection.
Of course, buyers are also expected to conduct due diligence. In a lawsuit for nondisclosure, courts won't reward a lack of diligence.
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 Edwardsville, Kansas Real Estate Attorney help?
Buying a house can be an exciting, but difficult, experience. Most home buyers want to focus on the positive aspects that come with home-ownership, and ignore the tedious paperwork and legal issues. A good Edwardsville, Kansas real estate attorney can enable this.