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 Palmhurst, 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.
Palmhurst, Texas real estate brokers are typically paid by taking a pre-determined portion of the house's sale price.
Getting a Mortgage in Palmhurst, Texas
If the buyer asks a direct question concerning the physical condition of the property, the seller must answer it truthfully. Misrepresenting a material fact in a real estate transaction is a very serious form of fraud, and could give rise to significant damages against the seller.
Most substantial 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.
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.
Usually, buyers have a duty to conduct a reasonable inspection of the property before buying it. Therefore, buyers typically can't recover for defects that could have been discovered via reasonable inspection, unless the seller actively conceals them.
Can a Palmhurst, Texas Real Estate Attorney help?
If you're in the process of purchasing a Palmhurst, Texas home, the advice of an efficient 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.