Home Sale Law in Texas
When you are about to buy or sell a home, there are many things that must be considered, not the least of which being the many legal and financial decisions you have to make.
In North Richland Hills, 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 typically 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 help 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 North Richland Hills, Texas, brokers typically receive compensation in the form of a percentage of the sale price of the home.
Getting a Mortgage in North Richland Hills, Texas
First and foremost, if a buyer asks any question of the seller relating to physical defects in the property, the seller must, under all cases, 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
Moreover, most defects should be disclosed even if the buyer doesn't directly ask about them. Usually, defects which must be disclosed are those which are known to the seller, and which the buyer cannot be expected to find through a regular inspection.
As a buyer, you should be aware that you have some obligations in this area, too. Buyers are expected to be diligent. Failure to do so might prevent the buyer from recovering in a lawsuit.
In general, buyers of real estate have to conduct diligent inspections of property they wish to purchase. A failure to do so might prevent the buyer from recovering if they're injured by a defect which they could have discovered.
Can a North Richland Hills, Texas Real Estate Attorney help?
When buying a house, most people want to focus on the aspects that directly matter to them, such as moving in. For that reason, it's highly desirable that the process of buying and selling a house goes as smoothly as possible. To that end, a good North Richland Hills, Texas real estate attorney could be invaluable.