Home Sale Law in Pennsylvania
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 Bristol, Pennsylvania 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.
Some Bristol, Pennsylvania 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 Bristol, Pennsylvania
If the buyer asks a direct question concerning the physical condition of the property, the seller must answer it truthfully. Misrepresenting a material fact in a real estate transaction is a very serious form of fraud, and could give rise to significant damages against the seller.
Most considerable 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 discover it through a normal inspection, the seller must disclose it.
As a buyer, you should be aware that you have some obligations in this area, too. Buyers are expected to be diligent. Failure to do so might prevent the buyer from recovering in a lawsuit.
In general, buyers of real estate have to conduct diligent inspections of property they wish to purchase. A failure to do so might prevent the buyer from recovering if they're injured by a defect which they could have discovered.
Can a Bristol, Pennsylvania Real Estate Attorney help?
When buying a house, most people want to focus on the aspects that really 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 Bristol, Pennsylvania real estate attorney could be invaluable.