Home Sale Law in New Jersey
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 Flemington, New Jersey 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.
One good way to help a real estate sale or purchase go smoothly is to hire 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 Flemington, New Jersey, real estate brokers are typically compensated with a percentage of the home's sale price.
Getting a Mortgage in Flemington, New Jersey
Any direct questions asked of the seller by the buyer must be answered truthfully. This is particularly the case if the buyer asks about defects in the property. If the seller lies in response to such questions, they have just committed a very significant form of fraud. If the buyer later discovers this defect (after buying the property) he can sue the seller for any physical or financial harm caused by it.
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 know through a reasonable inspection, it has to be disclosed.
As a buyer, you should be aware that you have some commitments in this area, too. Buyers are expected to be diligent. Failure to do so might prevent the buyer from recovering in a lawsuit.
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 Flemington, New Jersey Real Estate Attorney help?
Buying a house can be an exciting, but challenging, experience. Most home buyers want to focus on the positive aspects that come with home-ownership, and ignore the tedious paperwork and legal issues. A reputable Flemington, New Jersey real estate attorney can enable this.