Home Sale Law in Nebraska
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 it's possible in Chadron, Nebraska for individuals to buy or sell property on their own, this is not the only (or necessarily best) option. There are many complex legal and financial issues involved, so the assistance of a professional is advisable.
For that reason, it's usually best to buy and sell property through a real estate broker. This is a person who helps a person buy or sell a home. They serve as an intermediary between the buyer and seller, help sellers find buyers, and help prospective buyers. They also handle a great deal of the paperwork and other formalities involved.
In Chadron, Nebraska, 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 Chadron, Nebraska
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 significantt 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. Generally, 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.
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 Chadron, Nebraska Real Estate Attorney help?
As you can imagine, there are many more legal and financial issues that can affect the outcome of a real estate transaction. However, buying a house is also a very exciting time for most people. A good Chadron, Nebraska real estate attorney can help you focus on the positive aspects, and avoid dealing with the most difficult and tedious (but nonetheless necessary) aspects.