Home Sale Law in New York
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 Oneonta, New York don't opt to sell real estate themselves, even though there are no laws barring them from doing so.
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.
In Oneonta, New York, brokers typically receive compensation in the form of a percentage of the sale price of the home.
Getting a Mortgage in Oneonta, New York
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.
There are some defects which should be disclosed whether asked or not. Any defect which the seller is cognizant of, and the buyer can't be reasonably expected to discover before buying the house, must be disclosed.
Buyers, nonetheless, are not off the hook in this matter. If they ignore defects that they could have quickly discovered, they probably won't be able to recover for them.
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 Oneonta, New York Real Estate Attorney help?
When buying a house, most individuals 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 Oneonta, New York real estate attorney could be invaluable.