Home Sale Law in Virginia
When you are about to buy or sell a home, there are several things that must be considered, not the least of which being the many legal and financial decisions you have to make.
In Henrico County, Virginia, it's perfectly legal for individuals to buy and sell homes without the assistance of a third party. Nonetheless, this isn't the only option, and isn't always the best option, either.
Therefore, 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 procedure much easier, helping deal with the tedious details and formalities.
Some Henrico County, Virginia real estate brokers charge a flat fee, but most take a relatively small percentage of the sale price of a house they assist a client sell.
Getting a Mortgage in Henrico County, Virginia
First if all, if the buyer asks any question about the condition of the real estate, the seller is absolutely obligated to answer it truthfully. If the seller provides any false information about the condition of the property, and the buyer buys it and later finds out, they can sue the seller for any harm caused, and the diminution in the house's value.
There are some defects which should be disclosed whether asked or not. Any defect which the seller is cognizant of, and the buyer can't be reasonably expected to discover before buying the house, must be disclosed.
Buyers, nonetheless, also have duties in this area. A buyer will not be rewarded for refusing to exercise due diligence.
In general, buyers of real estate have to conduct diligent inspections of property they wish to purchase. A failure to do so might keep the buyer from recovering if they're injured by a defect which they could have discovered.
Can a Henrico County, Virginia 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 seasoned Henrico County, Virginia real estate attorney can help you focus on the positive aspects, and avoid dealing with the most difficult and tedious (but nonetheless necessary) aspects.