Real Estate Law in Texas
Presidio's real estate industry is controlled by a huge body of laws. This is because almost any real estate transaction invokes laws regarding civil rights, consumer protection, land use, and contracts.
The wide volume of laws regulating real estate in Presidio might seem overwhelming to the uninitiated. Indeed, they can get very complicated, especially when issues about title defects or construction disputes are involved.
Thus, it's always good to have at least some knowledge of Presidio's real estate law.
Having at least some knowledge of real estate law will be to your advantage in practically any real estate transaction. Knowing the law can give you a bargaining advantage and prevent you from being saddled with obligations that you don't have to assume.
Common Real Estate Law Issues in Presidio
Financing: Not too many individuals or small businesses in Presidio can purchase real estate with the cash on hand, simply because land is expensive, and few people have hundreds of thousands (or even millions) of dollars in the bank. In buying real estate, a mortgage is an outstanding solution for most people. Of course, you still have to pay the full price of the real estate you're buying, but a mortgage allows you to do this in installments, over a period of years.
Zoning: Zoning laws dictate what types of buildings can go on given pieces of property. These laws are typically designed to ensure that residential areas are as clean and as quiet as possible, thereby preserving property values. They accomplish this by ensuring that other uses that might be inappropriate in a residential area, such as heavy industry, are in different parts of town. This also ensures that industries will be able to go about their business without constant complaints from their neighbors.
Duty of Disclosure: Sellers of homes are bound by a legal duty to disclose defects in the home to prospective buyers, before they purchase the house. Any defect which the seller knows (or reasonably should know) about, and which cannot be discovered by the buyer through an normal inspection, must be disclosed to the buyer.
Implied Warranties: Every lease of a residential unit in Presidio carries with it an implicit promise by the owner that the unit will meet some basic minimum requirements for human habitability. There are many factors that go into deciding if an unit is "habitable," but there are a few essentials, and they include running water, heat, electricity, and adequate shelter from the elements.
Can a Presidio Real Estate Lawyer Help?
The issues discussed here, along with others, can be complicated and intricate. Therefore, if you have any questions on this subject, you should not hesitate to ask a Presidio real estate lawyer.