Buying or selling a home is certainly exciting, but there can be legal issues that occur during the process. The best way to prepare for these is to be aware of what these potential issues are and to take advantage of a licensed professional! Below we are discussing 3 legal issues to consider when buying or selling a home and ways your agent can help you throughout each process. Don’t do it alone!
- Disclosure
Sellers are required to provide the buyer with any knowledge of issues or known problems with the home (such as known leaks or drainage issues). However, some sellers will not disclose an issue with the home and will later dispute having ever known about it. If you are selling your home, your agent can assist you in finding ways to resolve or work with these issues. If you are buying, your agent can assist you in arranging a home inspection to double check for any property problems. Failure to disclose can lead to legal battles down the line.
- Property Disputes
Have you ever had an issue with a neighbor, or known someone who has? Property disputes, such as disputes over property boundaries or with a Homeowner’s Association, should be disclosed to the buyer. Your agent can help you determine if there are any property disputes prior to closing. Failure to check on property disputes can lead to legal disputes with the prior owners and your new neighbors.
- Property Titles
When buying a home, it is beneficial to perform a title search. This report shows the owner of the property, so that the buyer can be sure they are paying the rightful owner. It will also bring forward information of any liens, or debts, on the property. Your agent will know how to properly handle a title search and explain any implications that it may have on your purchase.
Need help buying or selling your home? Dianne Perry & Company offer over 30 years of experience in the Wilmington NC area! Find out more about our agents here!