VETERAN OWNEDTo have a successful home buying or selling experience, it’s crucial to understand the legal aspects involved. Residential real estate deals can be intricate, and even small legal matters can turn into major problems if mishandled. To safeguard yourself, you must have a comprehensive understanding of the entire process. In this post, we will outline three of the most frequent legal concerns that can result in costly mistakes if you’re not well-informed.
Choosing the Right Real Estate Agent to Represent Your Interests
Since there are many legal issues to consider, it’s important to enlist the services of reputable and experienced professionals to represent your interests. When selecting a real estate agent, ensure they have an extensive track record of successfully guiding clients through the process. They should also be able to refer you to a local real estate lawyer who can help protect your interests.
Hiring a real estate agent is not easy as the decision you make can potentially save or cost you thousands of dollars. The right agent will provide second-mile service to help you buy your dream home for a great deal and get your home sold fast and for top dollar. It’s important to hire an agent that will represent you best, so make sure to ask potential agents the right questions. In fact, some agents may be reluctant to answer these questions, but remember that knowing the truth can help determine if they are the right fit for you. Since not all agents are created equal, approach the hiring process with care. Think of yourself as the boss and select an agent who is the best fit for your needs because this is your biggest financial investment!
Three Legal Issues That Could Cost You Thousands
Following are 3 common examples of legal clauses that can work for your disadvantage if not worded correctly:
Survey Clause
Homebuyers can add a survey clause to their real estate contract, and sellers should be aware of the potential cost of an updated survey if their current one is outdated. An experienced real estate agent can provide a survey, but it is up to the buyer to determine if it is acceptable. If unsure, consult a lawyer before signing the offer to avoid losing thousands of dollars.
Home Inspection Clause
The previous wording of the inspection clause in real estate transactions allowed buyers to rescind their offer if they were unhappy with the inspection results. This was sometimes used unfairly, causing sellers to lose time and money. The new wording gives sellers the option to fix flagged issues, protecting both the buyer and seller. It is important to work with a real estate lawyer to ensure your interests are protected.
Swimming Pool Clause
When buying or selling a home with a swimming pool, a specific legal clause should address the pool’s condition. Some contracts provide a warranty for the pool’s survival until closing. However, sellers may prefer wording indicating their belief that the pool is in good condition at closing. Seek advice from a real estate professional and obtain legal counsel to protect interests and avoid unnecessary costs.
Conclusion
Legal clauses in contracts are like secret rules that can either help you or hurt you. Think of them as tiny but powerful parts of an agreement, especially when buying or selling a house. These clauses have changed over time to make things fairer for everyone involved. To avoid cancellation due to dissatisfaction with the inspection, buyers and sellers can now resolve issues together. However, crafting these clauses correctly can be challenging. Seeking guidance from professionals such as real estate agents or lawyers is crucial. They can simplify complex language and ensure the contract benefits you, preventing future complications.
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With my vast knowledge of the real estate market, I can help you buy or sell your home stress-free. My tips and guidance will get your home sold fast, for top dollar, and with the least amount of hassle. Don’t just take my word for it – my record of selling more homes than any other agent in Killeen speaks for itself. Call Shelly Salas Today at 254-223-SOLD or fill out the form located at the bottom of this page to get started!
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