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 Park, 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.
Some Park, Kansas real estate brokers charge a flat fee, but most take a relatively small percentage of the sale price of a house they help a client sell.
Getting a Mortgage in Park, Kansas
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.
In addition to disclosing any material facts the buyer directly inquires about, most "latent defects" in a house or other piece of property should be disclosed whether the buyer asks or not. Generally, any defect that the seller knows about and that the buyer can't be expected to discover through a reasonable inspection, it has to be disclosed.
As a buyer, you should be aware that you have some obligations in this area, too. Buyers are expected to be diligent. Failure to do so might prevent the buyer from recovering in a lawsuit.
Generally, buyers have a duty to conduct a reasonable inspection of the property before buying it. Therefore, buyers usually can't recover for defects that could have been discovered via reasonable inspection, unless the seller actively conceals them.
Can a Park, Kansas Real Estate Attorney help?
If you're in the process of purchasing a Park, Kansas 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.