Home Sale Law in Nevada
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.
Because of the complexity of these issues, most persons in Fernley, Nevada don't opt to sell real estate themselves, even though there are no laws barring them from doing so.
For that reason, it's typically 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 help 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 Fernley, Nevada, most real estate brokers are paid a commission, represented by a part of the sale price of the home. Some might charge a flat fee, however.
Getting a Mortgage in Fernley, Nevada
If the buyer asks a direct question regarding the physical condition of the property, the seller must answer it truthfully. Misrepresenting a material fact in a real estate transaction is a very significant form of fraud, and could give rise to significant damages against the seller.
There are some defects, however, that the seller should disclose whether asked or not. Usually, if the seller knows about any defects that are not readily apparent, he or she should disclose them to the buyer, whether or not the buyer directly asks. This will greatly reduce the chances of the seller being held liable for any defects.
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, 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 Fernley, Nevada Real Estate Attorney help?
If you're in the process of purchasing a Fernley, Nevada home, the advice of an efficient real estate attorney can make the process much easier, and help ensure that no surprises come up. This will give you the peace of mind to actually enjoy your new home, rather than worry about it.