Home Sale Law in Maine
The decision to buy or sell a house, or other piece of real property, is very important. For most, it's one of the most crucial financial decisions of their life.
Because of the complexity of these issues, most individuals in Windham, Maine don't opt to sell real estate themselves, even though there are no laws barring them from doing so.
Accordingly, many people decide to go through a real estate broker when they're buying or selling a house. A real estate broker is a professional who serves as an intermediary between buyers and sellers. They can make the process much easier, helping deal with the tedious details and formalities.
In Windham, Maine, brokers normally receive compensation in the form of a percentage of the sale price of the home.
Getting a Mortgage in Windham, Maine
First and foremost, if a buyer asks any question of the seller relating to physical defects in the property, the seller must, under all situations, be as truthful as possible. In this case being "as truthful as possible" means answering such questions to the best of your knowledge, and making reasonable efforts to find the answers if you don't know them. Lying in this case is very bad idea, and will expose you to serious civil penalties
There are some defects, however, that the seller should disclose whether asked or not. Typically, if the seller knows about any defects that are not readily apparent, he or she should disclose them to the buyer, whether or not the buyer specifically asks. This will greatly reduce the chances of the seller being held liable for any defects.
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.
In general, buyers of real estate have to conduct diligent inspections of property they wish to purchase. A failure to do so might prevent the buyer from recovering if they're injured by a defect which they could have discovered.
Can a Windham, Maine Real Estate Attorney help?
If you're in the process of purchasing a Windham, Maine home, the advice of an accomplished 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.