Home Sale Law in Tennessee

When you are about to buy or sell a home, there are various things that must be considered, not the least of which being the many legal and financial decisions you have to make.

While no Lafayette, Tennessee law prohibits people from buying or selling land on their own, this is not always the best idea. There are many complicated issues that can affect the outcome of a property sale or purchase.

For that reason, it's usually best to buy and sell property through a real estate broker. This is a person who helps a person buy or sell a home. They serve as an intermediary between the buyer and seller, help sellers find buyers, and help prospective buyers. They also handle a great deal of the paperwork and other formalities involved.

Some Lafayette, Tennessee real estate brokers charge a flat fee, but most take a relatively small percentage of the sale price of a house they assist a client sell.

Getting a Mortgage in Lafayette, Tennessee

First and foremost, if a buyer asks any question of the seller relating to physical defects in the property, the seller must, under all circumstances, be as truthful as possible. In this case being "as truthful as possible" means answering such questions to the best of your knowledge, and making reasonable efforts to find the answers if you don't know them. Lying in this case is very bad idea, and will expose you to serious civil penalties

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 directly asks. This will greatly reduce the chances of the seller being held liable for any defects.

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.

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 Lafayette, Tennessee Real Estate Attorney help?

If you're in the process of purchasing a Lafayette, Tennessee 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.