Home Sale Law in Maryland

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.

Because of the complexity of these issues, most persons in Berlin, Maryland don't opt to sell real estate themselves, even though there are no laws barring them from doing so.

For that reason, it's typically best to buy and sell property through a real estate broker. This is a person who helps a person buy or sell a home. They help as an intermediary between the buyer and seller, help sellers find buyers, and help prospective buyers. They also handle a great deal of the paperwork and other formalities involved.

In Berlin, Maryland, brokers typically receive compensation in the form of a percentage of the sale price of the home.

Getting a Mortgage in Berlin, Maryland

If the buyer asks the seller a question about the physical condition of the home, the seller is legally required 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 substantialt liability.

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 know it through a normal inspection, the seller must disclose it.

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

In general, buyers of real estate have to conduct diligent inspections of property they wish to purchase. A failure to do so might keep the buyer from recovering if they're injured by a defect which they could have discovered.

Can a Berlin, Maryland Real Estate Attorney help?

If you're in the process of purchasing a Berlin, Maryland 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.