Home Sale Law in Louisiana

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

While no Monroe, Louisiana law prohibits people from buying or selling land on their own, this is not always the best idea. There are many intricate issues that can affect the outcome of a property sale or purchase.

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 Monroe, Louisiana, 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 Monroe, Louisiana

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 should remember, nonetheless, that if they are not blameless in their failure to discover defects, they might not be able to recover if they sue.

Therefore, if a buyer fails to conduct a reasonable expectation of the property, he or she cannot recover for any harm caused by defects that such an inspection would have revealed.

Can a Monroe, Louisiana 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 Monroe, Louisiana real estate attorney can help you focus on the positive aspects, and avoid dealing with the most difficult and tedious (but nonetheless necessary) aspects.