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 potentially life-changing financial and legal decisions.
While it's possible in Oakland, New Jersey for individuals to buy or sell property on their own, this is not the only (or necessarily best) option. There are many intricate 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 contact 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.
Oakland, New Jersey real estate brokers are typically paid by taking a pre-determined portion of the house's sale price.
Getting a Mortgage in Oakland, New Jersey
Any direct questions asked of the seller by the buyer must be answered truthfully. This is especially 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 serious 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.
Most substantial 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 discover it through a normal inspection, the seller must disclose it.
As a buyer, you should be aware that you have some obligations in this area, too. Buyers are expected to be diligent. Failure to do so might prevent the buyer from recovering in a lawsuit.
Accordingly, if a buyer fails to conduct a reasonable expectation of the property, he or she cannot recover for any harm caused by defects that such an inspection would have revealed.
Can a Oakland, New Jersey Real Estate Attorney help?
When buying a house, most people want to focus on the aspects that directly 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 Oakland, New Jersey real estate attorney could be invaluable.