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 Palmyra, 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.

Some Palmyra, New Jersey real estate brokers charge a flat fee, but most take a relatively small percentage of the sale price of a house they help a client sell.

Getting a Mortgage in Palmyra, New Jersey

First if all, if the buyer asks any question about the condition of the real estate, the seller is absolutely required to answer it truthfully. If the seller provides any false information about the condition of the property, and the buyer buys it and later finds out, they can sue the seller for any harm caused, and the diminution in the house's value.

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. Usually, 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.

Consequently, 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 Palmyra, New Jersey 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 knowledgeable Palmyra, New Jersey real estate attorney can help you focus on the positive aspects, and avoid dealing with the most difficult and tedious (but nonetheless necessary) aspects.