During the sale of a house, there are certain legal issues related to the transfer of ownership from one party to another. If not done properly and handled correctly, you may end up making fatal legal mistakes selling a house.
As you are likely well-aware, your home is your largest and most valuable asset, so it is vital that you do not make any common mistakes when buying or selling such an important asset. This includes small but critical legal issues that may arise.
Our team at Your Home Sold Guaranteed - Couture Realty Team recommends that you become educated about these legal mistakes and their ramifications, including:
- Losing a good deal of money
- Expending extra time and dealing with hassles
- Possible legal consequences
To assist you in your education of the legal issues related to selling a house, real estate industry experts have prepared a special report that is available to you for free, and it will ensure you know how to avoid fatal legal mistakes selling a house. Be sure you get your copy and learn about all of these issues before it is too late.
Define Any Vague or Unclear Terms in the Brokerage Agreement
The brokerage agreement is going to be a critical and binding legal document that covers the sale of a home. When you are buying or selling, it is vital that you read through the agreement and make sure it covers all legal issues.
Unfortunately, some realtors will use standard forms because they assume that these forms cover all potential situations related to the sale. Anything you don’t include in the agreement can leave you liable to pay a commission even in the event that a sale does not take place.
Make the Purchase Agreements as Thorough as Possible
The purchase agreement is one of the most important documents in the transaction, and there are loads of legal questions to be addressed in this document. These questions include:
- What can you do lawfully if the home buyer plans to change the property?
- What happens if a home buyer has an inspector assess the property and finds termites, asbestos, radon, or lead-based paint?
- What if you discover the property contains hazardous waste?
- What are the legal outcomes if the closing does not occur?
- What happens to the down payment?
- According to the escrow instructions, will a lawyer hold the down payment in escrow?
- How should you make the payment?
An essential part of the purchase agreement is the carefully worded provision related to the commitment for financing that a home buyer needs to obtain from the lender before financing is done on a substantial portion of the purchase price. This will simply cover everyone’s interests.
Work with Realtors Who Understand Fatal Legal Mistakes Selling a House
As a home seller, it is wise to hire an experienced and skilled realtor who has a depth of knowledge when it comes to the fatal legal mistakes of selling a house. Our team at Your Home Sold Guaranteed - Couture Realty Team is available to help you understand all of the legal issues when selling a home and can provide you with resources and guarantees to ensure you avoid these problems.
To learn more about the legal issues of selling a home or to begin your home selling journey with us, give our expert realtors a call at (702) 476-0060 or fill out the form on this page for a detailed response from our real estate team.
We look forward to hearing from you!
