Home Sale Law in Utah
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 Salt Lake County, Utah, 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.
Accordingly, many people decide to go through a real estate broker when they're buying or selling a house. A real estate broker is a professional who serves as an intermediary between buyers and sellers. They can make the process much easier, helping deal with the tedious details and formalities.
In Salt Lake County, Utah, real estate brokers are usually compensated with a percentage of the home's sale price.
Getting a Mortgage in Salt Lake County, Utah
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.
Additionally, most defects should be disclosed even if the buyer doesn't directly ask about them. Typically, 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.
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.
Thus, buyers must inspect the property before they buy it. If they don't, they can't sue for any defects they later become aware of, if an inspection would have revealed those defects.
Can a Salt Lake County, Utah 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 brilliant Salt Lake County, Utah real estate attorney can help you focus on the positive aspects, and avoid dealing with the most difficult and tedious (but nonetheless necessary) aspects.