Home Sale Law in Texas
When you are about to buy or sell a home, there are numerous things that must be considered, not the least of which being the many legal and financial decisions you have to make.
In Mercedes, Texas, it's perfectly legal for individuals to buy and sell homes without the assistance of a third party. However, 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 Mercedes, Texas, brokers usually receive compensation in the form of a percentage of the sale price of the home.
Getting a Mortgage in Mercedes, Texas
If the buyer asks the seller a question about the physical condition of the home, the seller is legally bound 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.
Most significant 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.
Buyers should remember, however, that if they are not blameless in their failure to discover defects, they might not be able to recover if they sue.
Accordingly, 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 Mercedes, 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 good Mercedes, 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.