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 possibly life-changing financial and legal decisions.
While it's possible in Omaha, Nebraska for individuals to buy or sell property on their own, this is not the only (or necessarily best) option. There are many complicated legal and financial issues involved, so the assistance of a professional is advisable.
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 Omaha, Nebraska, real estate brokers are usually compensated with a percentage of the home's sale price.
Getting a Mortgage in Omaha, Nebraska
First and foremost, if a buyer asks any question of the seller relating to physical defects in the property, the seller must, under all situations, be as truthful as possible. In this case being "as truthful as possible" means answering such questions to the best of your knowledge, and making reasonable efforts to find the answers if you don't know them. Lying in this case is very bad idea, and will expose you to serious civil penalties
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. Typically, any defect that the seller knows about and that the buyer can't be expected to know through a reasonable inspection, it has to be disclosed.
Buyers, nonetheless, also have duties in this area. A buyer will not be rewarded for refusing to exercise due diligence.
Typically, buyers have a duty to conduct a reasonable inspection of the property before buying it. Therefore, buyers normally can't recover for defects that could have been discovered via reasonable inspection, unless the seller actively conceals them.
Can a Omaha, 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 seasoned Omaha, 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.