Home Sale Law in Washington
If you are in the process of buying or selling a home, you're probably 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 Federal Way, Washington against individuals buying or selling real estate on their own, this is rarely the best way to go, given the many legal issues surrounding the sale of property.
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 Federal Way, Washington, brokers normally receive compensation in the form of a percentage of the sale price of the home.
Getting a Mortgage in Federal Way, Washington
First and foremost, if a buyer asks any question of the seller relating to physical defects in the property, the seller must, under all situations, be as truthful as possible. In this case being "as truthful as possible" means answering such questions to the best of your knowledge, and making reasonable efforts to find the answers if you don't know them. Lying in this case is very bad idea, and will expose you to serious civil penalties
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, however, are not off the hook in this matter. If they ignore defects that they could have easily discovered, they probably won't be able to recover for them.
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 Federal Way, Washington Real Estate Attorney help?
If you are buying a home in Federal Way, Washington, 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 brilliant real estate attorney can make it much easier to focus on the aspects of home ownership that matter to you.