Home Sale Law in Wisconsin

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 Elm Grove, Wisconsin 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.

Many individuals, families, and small businesses rely on real estate brokers to find property for them. Real estate brokers are professionals who assist as middlemen or women between the buyers and sellers of real estate.

In Elm Grove, Wisconsin, brokers normally receive compensation in the form of a percentage of the sale price of the home.

Getting a Mortgage in Elm Grove, Wisconsin

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.

As a buyer, you should be aware that you have some commitments in this area, too. Buyers are expected to be diligent. Failure to do so might prevent the buyer from recovering in a lawsuit.

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 Elm Grove, Wisconsin Real Estate Attorney help?

If you are buying a home in Elm Grove, Wisconsin, 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 seasoned real estate attorney can make it much easier to focus on the aspects of home ownership that matter to you.