Home Sale Law in Texas
When you are about to buy or sell a home, there are several things that must be considered, not the least of which being the many legal and financial decisions you have to make.
In Marble Falls, Texas, it's perfectly legal for individuals to buy and sell homes without the assistance of a third party. Nonetheless, this isn't the only option, and isn't always the best option, either.
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.
In Marble Falls, Texas, brokers usually receive compensation in the form of a percentage of the sale price of the home.
Getting a Mortgage in Marble Falls, Texas
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 significantt liability.
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 Marble Falls, Texas Real Estate Attorney help?
As you can imagine, there are many more legal and financial issues that can affect the outcome of a real estate transaction. However, buying a house is also a very exciting time for most people. A reputable Marble Falls, Texas real estate attorney can help you focus on the positive aspects, and avoid dealing with the most difficult and tedious (but nonetheless necessary) aspects.