Home Sale Law in Vermont
If you are in the process of buying or selling a home, you're likely already aware of the many legal, financial, and other issues that can affect the process and outcome of such a transaction.
While there are no laws in South Burlington, Vermont against persons buying or selling real estate on their own, this is rarely the ideal way to go, given the many legal issues surrounding the sale of property.
Therefore, it's typically a good idea to use a real estate broker for these transactions. A real estate broker is a professional who helps people buy and sell property. They can help buyers find sellers, and vice versa. They can also handle a large percentage of the tedious details.
In South Burlington, Vermont, most real estate brokers are paid a commission, represented by a part of the sale price of the home. Some might charge a flat fee, however.
Getting a Mortgage in South Burlington, Vermont
Any direct questions asked of the seller by the buyer must be answered truthfully. This is particularly the case if the buyer asks about defects in the property. If the seller lies in response to such questions, they have just committed a very significant form of fraud. If the buyer later discovers this defect (after buying the property) he can sue the seller for any physical or financial harm caused by it.
In addition to disclosing any material facts the buyer directly inquires about, most "latent defects" in a house or other piece of property should be disclosed whether the buyer asks or not. Usually, any defect that the seller knows about and that the buyer can't be expected to know through a reasonable inspection, it has to be disclosed.
Of course, buyers are also expected to conduct due diligence. In a case for nondisclosure, courts won't reward a lack of diligence.
Buyers have to conduct reasonably-diligent inspections of land they want to buy. If they refuse to do so, they can't sue for any defects which they could have easily discovered.
Can a South Burlington, Vermont Real Estate Attorney help?
If you are buying a home in South Burlington, Vermont, there are probably things you want to focus on other than paperwork and required inspections, such as the process of moving in, checking out schools, etc. A reliable real estate attorney can make it much easier to focus on the aspects of home ownership that matter to you.