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 possibly life-changing financial and legal decisions.

While there are no laws in Hillsborough, North Carolina against persons buying or selling real estate on their own, this is rarely the ideal way to go, given the many legal issues surrounding the sale of property.

One good way to help a real estate sale or purchase go smoothly is to retain 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 Hillsborough, North Carolina, brokers normally receive compensation in the form of a percentage of the sale price of the home.

Getting a Mortgage in Hillsborough, North Carolina

If the buyer asks the seller a question about the physical condition of the home, the seller is legally required 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 considerablet liability.

Most considerable defects (those which have any effect on the value or safety of the home) should be disclosed even if the buyer doesn't ask about them. If the seller knows of a defect, and a reasonable buyer wouldn't be able to know it through a normal inspection, the seller must disclose it.

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

Buyers have to conduct reasonably-diligent inspections of land they want to buy. If they refuse to do so, they can't sue for any defects which they could have easily discovered.

Can a Hillsborough, North Carolina Real Estate Attorney help?

When buying a house, most individuals want to focus on the aspects that really 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 Hillsborough, North Carolina real estate attorney could be invaluable.