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 people in Oswego, 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 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 Oswego, New York, brokers usually receive compensation in the form of a percentage of the sale price of the home.

Getting a Mortgage in Oswego, 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.

Most significant 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 know it through a normal inspection, the seller must disclose it.

Buyers should remember, nonetheless, that if they are not blameless in their failure to discover defects, they might not be able to recover if they sue.

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 Oswego, New York Real Estate Attorney help?

If you're in the process of purchasing an Oswego, New York home, the advice of an experienced 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.