During the process of buying a home, minor issues that seem challenging to overcome may arise. Although the legalities between home buyer and seller might appear confusing, it you understand the law then these issues are pretty straightforward. These legal issues of buying a homes for sale Charleston SC and other areas of the country should not keep you from going after buying that dream house, rather just arm yourself with the knowledge to make good decisions and be sure to reach out for help with your attorney if the issue seems insurmountable.
Seller Signed two Contracts
The contract law is extremely specific when it pertains to contracts between sellers and buyers. While the seller has a right to accept multiple bids, they are only allowed to sign one contract at a time. Sellers could accept a second contract with the contingency only in the event the original contract is voided.
Are Home Inspection Required by Law?
The home inspection isn’t required by law during the home purchase stage. If a buyer decides to have a home inspection done, then they should ensure the inspector is qualified and the inspector is properly insured. The seller has an obligation to making sure full disclosure of any defects is made. Sellers can not legally hide defects of the property for the purpose of closing the sale.
Seller is Stalling at Closing
Your down payment is now processed, your loan has finally been approved, and the home inspection is finalized. You’ve given notice at your current property til the end of the month, suddenly the seller disappears. Even thought there could be some legitimate reasons for the delay in closing, you still have legal recourse.
Inspection Reveals Issues
Despite of how great a home looked on inspection, problems including faulty wires, leaking plumbing, or defects with foundations have been revealed. The buyer is protected from purchasing the home that has significant defects, especially which are found as a result of the inspections. Make sure that you’re aware of your rights as it pertains to property listed with significant defects.
There are many complexities involved with buying a home, and most home buyers simply can not prepare for all the legal issues of buying a home. Your Realtor should be able to help with some of the issues, and then put you in contact with a real estate attorney who understands all these issues in depth. That way you won’t be moving into a house and discovering your dream house is actually a real nightmare. For more great information like this visit Carolina one and only place for real estate: http://gopremierone.com