Home Sale Law in Michigan
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 persons in Gibraltar, Michigan don't opt to sell real estate themselves, even though there are no laws barring them from doing so.
One good way to help a real estate sale or purchase go smoothly is to contact 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.
In Gibraltar, Michigan, real estate brokers are normally compensated with a percentage of the home's sale price.
Getting a Mortgage in Gibraltar, Michigan
If the buyer asks the seller a question about the physical condition of the home, the seller is legally bound 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.
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. Usually, 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.
Buyers, however, also have duties in this area. A buyer will not be rewarded for failing to exercise due diligence.
Buyers have to conduct reasonably-diligent inspections of land they want to purchase. If they fail to do so, they can't sue for any defects which they could have easily discovered.
Can a Gibraltar, Michigan Real Estate Attorney help?
If you're in the process of purchasing a Gibraltar, Michigan 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.