Home Sale Law in West Virginia
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 it's possible in Grafton, West Virginia for individuals to buy or sell property on their own, this is not the only (or necessarily best) option. There are many intricate legal and financial issues involved, so the assistance of a professional is advisable.
For that reason, it's typically best to buy and sell property through a real estate broker. This is a person who helps a person buy or sell a home. They help as an intermediary between the buyer and seller, help sellers find buyers, and help prospective buyers. They also handle a great deal of the paperwork and other formalities involved.
In Grafton, West Virginia, most real estate brokers are paid a commission, represented by a portion of the sale price of the home. Some might charge a flat fee, however.
Getting a Mortgage in Grafton, West Virginia
If the buyer asks a direct question concerning the physical condition of the property, the seller must answer it truthfully. Misrepresenting a material fact in a real estate transaction is a very serious form of fraud, and could give rise to significant damages against the seller.
Moreover, most defects should be disclosed even if the buyer doesn't directly ask about them. Usually, 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 should remember, however, that if they are not blameless in their failure to discover defects, they might not be able to recover if they sue.
Consequently, 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 Grafton, West Virginia Real Estate Attorney help?
As you can imagine, there are many more legal and financial issues that can affect the outcome of a real estate transaction. However, buying a house is also a very exciting time for most people. A knowledgeable Grafton, West Virginia real estate attorney can help you focus on the positive aspects, and avoid dealing with the most difficult and tedious (but nonetheless necessary) aspects.