Home Sale Law in Mississippi
Buying or selling a house can be an exciting but stressful time in a person's life. It also requires a person to make a large number of potentially life-changing financial and legal decisions.
While there are no laws in Wiggins, Mississippi against individuals buying or selling real estate on their own, this is rarely the best way to go, given the many legal issues surrounding the sale of property.
Many individuals, families, and small businesses rely on real estate brokers to find property for them. Real estate brokers are professionals who assist as middlemen or women between the buyers and sellers of real estate.
In Wiggins, Mississippi, brokers normally receive compensation in the form of a percentage of the sale price of the home.
Getting a Mortgage in Wiggins, Mississippi
First if all, if the buyer asks any question about the condition of the real estate, the seller is absolutely required to answer it truthfully. If the seller provides any false information about the condition of the property, and the buyer buys it and later finds out, they can sue the seller for any harm caused, and the diminution in the house's value.
Additionally, most defects should be disclosed even if the buyer doesn't directly ask about them. Typically, 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, however, are not off the hook in this matter. If they ignore defects that they could have easily discovered, they probably won't be able to recover for them.
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 Wiggins, Mississippi Real Estate Attorney help?
If you're in the process of purchasing a Wiggins, Mississippi 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.