Home Sale Law in Oregon
When you are about to buy or sell a home, there are many things that must be considered, not the least of which being the many legal and financial decisions you have to make.
While there are no laws in Tigard, Oregon against individuals buying or selling real estate on their own, this is rarely the best way to go, given the many legal issues surrounding the sale of property.
Accordingly, many people decide to go through a real estate broker when they're buying or selling a house. A real estate broker is a professional who serves as an intermediary between buyers and sellers. They can make the process much easier, helping deal with the tedious details and formalities.
In Tigard, Oregon, brokers usually receive compensation in the form of a percentage of the sale price of the home.
Getting a Mortgage in Tigard, Oregon
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.
There are some defects, however, that the seller should disclose whether asked or not. Generally, 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 specifically asks. This will greatly reduce the chances of the seller being held liable for any defects.
Therefore, 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 Tigard, Oregon Real Estate Attorney help?
When buying a house, most people want to focus on the aspects that actually 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 Tigard, Oregon real estate attorney could be invaluable.