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 Pulaski, Tennessee law prohibits people from buying or selling land on their own, this is not always the best idea. There are many complex issues that can affect the outcome of a property sale or purchase.

For that reason, it's normally 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 assist 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.

In Pulaski, Tennessee, most real estate brokers are paid a commission, represented by a part of the sale price of the home. Some might charge a flat fee, however.

Getting a Mortgage in Pulaski, Tennessee

If the buyer asks the seller a question about the physical condition of the home, the seller is legally required to answer it honestly. If the seller lies when asked a direct question, they have committed a serious form of fraud, and, if sued by the buyer, will incur considerablet liability.

There are some defects, however, that the seller should disclose whether asked or not. Typically, 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.

Buyers have to conduct reasonably-diligent inspections of land they want to buy. If they refuse to do so, they can't sue for any defects which they could have easily discovered.

Can a Pulaski, Tennessee Real Estate Attorney help?

If you are buying a home in Pulaski, Tennessee, there are probably things you want to focus on other than paperwork and required inspections, such as the process of moving in, checking out schools, etc. A seasoned real estate attorney can make it much easier to focus on the aspects of home ownership that matter to you.