Real Estate Law in Virginia
The real estate industry in Roanoke is governed by a wide variety of laws, and these laws can affect the process and outcome of essentially any transaction or deal involving the sale, lease, or use of land.
Real estate law in Roanoke can be fairly complicated, especially when it comes to things like mortgages and the resolution of disputes over construction defects.
Accordingly, it's a smart idea to obtain at least a very basic knowledge of how real estate law in Roanoke works.
Having at least some knowledge of real estate law will be to your advantage in essentially 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 Roanoke
Financing: Not too many people or small businesses in Roanoke 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 excellent 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 control what types of structures can be built on given parcels of land. Typically, cities and towns are zoned in order to ensure that neighborhoods are clearly divided into residential, commercial, and industrial categories, to ensure that everyone who uses the land can make the best possible use of it, for their particular purpose
Duty of Disclosure: Sellers of homes are bound by a legal duty to disclose defects in the home to prospective buyers, before they buy the house. Any defect which the seller knows (or reasonably should know) about, and which cannot be discovered by the buyer through an ordinary inspection, must be disclosed to the buyer.
Implied Warranties: Every lease of a residential unit in Roanoke carries with it an implicit promise by the owner that the unit will meet some basic minimum standards for human habitability. There are many factors that go into determining 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 Roanoke Real Estate Lawyer Help?
Because the issues discussed above can get complex for laypersons, if you have a real estate issue, such as an eviction, or a construction dispute, you should not hesitate to contact a Roanoke real estate attorney ASAP.