Real Estate Law in Wisconsin
The real estate industry in Bellevue 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 Bellevue can be fairly complex, especially when it comes to things like mortgages and the resolution of disputes over construction defects.
Accordingly, it's a good idea to learn some of the basics of Bellevue's real estate laws.
Some understanding of the relevant law can give you an advantage in almost any situation. In the real estate context, it can help you spot illegal terms in lease agreements, give you some idea of what your rights are in a dispute, among other things. If nothing else, knowledge of the law can help you spot people who are willing to break it, so you can avoid dealing with them.
Common Real Estate Law Issues in Bellevue
Financing: Most individuals, families, and small businesses in Bellevue cannot afford to buy a large piece of real estate with the money they have on hand. However, they usually can afford to pay for it over a long period of time, in installments, with interest. Therefore, most real estate is purchased using a mortgage - a loan for a specific purchase, using the item purchased as collateral.
Zoning: Zoning regulations determine what types of structures are allowed on various parcels, based on their location in a municipality. For example, some areas in a city might be zoned only for residential use. Another area might allow industrial use. These rules are meant to keep property values up, and promote harmony among neighbors by preventing conflicts.
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: In Bellevue, every residential rental agreement carries with it a warranty of habitability, in which the landlord implicitly promises that the unit is fit for human habitation. This applies whether or not such a warranty is stated in the lease agreement, and it still applies even if the landlord tries to disclaim any such warranty. There are many conditions that might make an unit uninhabitable. A few examples are a lack of electricity, no running water, or no heating.
Can a Bellevue 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 Bellevue real estate attorney ASAP.