Home Sale Law in North Carolina

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 Canton, North Carolina 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 serve as middlemen or women between the buyers and sellers of real estate.

In Canton, North Carolina, most real estate brokers are paid a commission, represented by a portion of the sale price of the home. Some might charge a flat fee, however.

Getting a Mortgage in Canton, North Carolina

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.

There are some defects which should be disclosed whether asked or not. Any defect which the seller is aware of, and the buyer can't be reasonably expected to discover before buying the house, must be disclosed.

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

Therefore, 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 Canton, North Carolina Real Estate Attorney help?

When buying a house, most people want to focus on the aspects that actually matter to them, such as moving in. For that reason, it's highly desirable that the process of buying and selling a house goes as smoothly as possible. To that end, a good Canton, North Carolina real estate attorney could be invaluable.