Home Sale Law in Maryland
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.
Because of the complexity of these issues, most persons in Fruitland, 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.
Fruitland, Maryland real estate brokers are typically paid by taking a pre-determined portion of the house's sale price.
Getting a Mortgage in Fruitland, Maryland
If the buyer asks a direct question concerning the physical condition of the property, the seller must answer it truthfully. Misrepresenting a material fact in a real estate transaction is a very serious form of fraud, and could give rise to significant damages against the seller.
Moreover, most defects should be disclosed even if the buyer doesn't directly ask about them. Usually, 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.
Buyers should remember, however, that if they are not blameless in their failure to discover defects, they might not be able to recover if they sue.
Consequently, buyers must inspect the property before they buy it. If they don't, they can't sue for any defects they later become aware of, if an inspection would have revealed those defects.
Can a Fruitland, Maryland Real Estate Attorney help?
If you are buying a home in Fruitland, Maryland, there are probably things you want to focus on other than paperwork and required inspections, such as the process of moving in, checking out schools, etc. A knowledgeable real estate attorney can make it much easier to focus on the aspects of home ownership that matter to you.