Home Sale Law in West Virginia

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 it's possible in Morgantown, West Virginia for individuals to buy or sell property on their own, this is not the only (or necessarily best) option. There are many complicated legal and financial issues involved, so the assistance of a professional is advisable.

Therefore, 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 procedure much easier, helping deal with the tedious details and formalities.

In Morgantown, West Virginia, real estate brokers are usually compensated with a percentage of the home's sale price.

Getting a Mortgage in Morgantown, West Virginia

If the buyer asks a direct question regarding the physical condition of the property, the seller must answer it truthfully. Misrepresenting a material fact in a real estate transaction is a very significant form of fraud, and could give rise to significant damages against the seller.

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.

Of course, buyers are also expected to conduct due diligence. In a case for nondisclosure, courts won't reward a lack of diligence.

Typically, buyers have a duty to conduct a reasonable inspection of the property before buying it. Therefore, buyers normally can't recover for defects that could have been discovered via reasonable inspection, unless the seller actively conceals them.

Can a Morgantown, 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 seasoned Morgantown, 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.