Real Estate Law in Pennsylvania

Souderton's real estate industry is governed by a huge body of laws. This is because almost any real estate transaction invokes laws concerning civil rights, consumer protection, land use, and contracts.

The law governing real estate in Souderton can get pretty complicated, especially when things such as mortgages, disputes about construction defects, and conflicts over title are involved.

Therefore, it's always good to have at least some knowledge of Souderton's real estate law.

If you have even a little bit of basic knowledge of applicable real estate law, your life will probably be a great deal easier. If you have some understanding of the law, your knowledge will likely put you in a better bargaining position.

Common Real Estate Law Issues in Souderton

Financing: Most people are unable to make major real estate purchases in Souderton with cash, because few people have that kind of money on hand. Therefore, to buy real estate, most entities use a mortgage. This is a loan used to buy a piece of property. When the loan is issued, and the property purchased, the lender holds a security interest in the property until the loan is paid off, with interest.

Zoning: Zoning laws regulate what types of structures can be built on given parcels of land. Generally, cities and towns are zoned in order to ensure that neighborhoods are clearly divided into residential, commercial, and industrial categories, to ensure that everyone who uses the land can make the best possible use of it, for their particular purpose

Duty of Disclosure: Sellers of homes are bound by a legal duty to disclose defects in the home to prospective buyers, before they buy the house. Any defect which the seller knows (or reasonably should know) about, and which cannot be discovered by the buyer through an ordinary inspection, must be disclosed to the buyer.

Implied Warranties: Every lease of a residential unit in Souderton carries with it an implicit promise by the owner that the unit will meet some basic minimum standards for human habitability. There are many factors that go into determining if an unit is "habitable," but there are a few essentials, and they include running water, heat, electricity, and adequate shelter from the elements.

Can a Souderton Real Estate Lawyer Help?

The issues discussed here, along with others, can be complex and confusing. Therefore, if you have any questions on this subject, you should not hesitate to ask a Souderton real estate lawyer.