Whether you are buying or selling a home , it is vital to avoid legal issues in the Delray Beach market. In the real estate industry, there are a variety of small but critical legal concerns that need to be addressed immediately.
Remember, a home is usually the largest investment of money you will make in your life, and the buying or selling process should reflect that importance. There are certain legal details that could develop into major concerns if they are not expertly handled.
If something terrible happens with these legal issues because the home buyer or seller has not properly educated themselves about them, there could be serious consequences. These may include:
- Losing thousands of dollars
- Wasting lots of time dealing with hassles
- Encountering legal consequences
To assist you in preventing these legal issues from happening to you when buying or selling a home in Delray Beach, our team at Your Home Sold Guaranteed Realty - Loffredo Real Estate Group is offering you FREE access to a special report. This report has been designed to ensure you understand the legal issues and how to avoid making costly legal mistakes.
To make sure your investment is fully protected, read this report before you jump into the Delray Beach real estate market to buy or sell a home.
Make Sure the Terms in Your Brokerage Agreement Are Specific and Clear
One of the first things you should check during the real estate process is the brokerage agreement. All terms in the contract need to be specific and clear to ensure that the agreement covers all essential legal issues.
Even if a Delray Beach realtor uses a tried and true standard brokerage agreement form, you need to double check and make sure that all the necessary information is listed. If it is not, you may be liable for paying the brokerage commission even if the sale is derailed.
The Purchase Agreement Needs to Be Impeccable as the Most Important Document in the Transaction
You may not know this, the purchase agreement is the most important document in the entire transaction. It contains all of the critical information concerning the sale/purchase, so it needs to be impeccable. Certain legal questions need to be answered, including:
- Can that be done lawfully if the home buyer plans to change the property?
- What happens if a home inspector assesses the property and finds termites, asbestos, radon, or lead-based paint?
- What if there is hazardous waste found on the property?
- What legal issues need to be addressed should the closing not occur?
- What happens to the down payment?
- Will it be held in escrow by a lawyer?
- How is the payment to be made?
A commitment for financing should be obtained by a home buyer from the lending institution if they will be financing a large portion of the purchase price, and the purchase agreement needs to state that outright.
Our Realtors Ensure You Avoid Legal Issues in the Delray Beach Market
At Your Home Sold Guaranteed Realty - Loffredo Real Estate Group, our Delray Beach realtors know that the home buying or home selling process can be very complicated, confusing, and overwhelming, especially for those who do not have ample experience in the industry.
This is certainly true for the legal issues that accompany such a large transaction. That is why we are happy to provide you with resources and guarantees to ensure you avoid any and all legal problems during the process.
To learn more about the legal concerns of real estate transactions or to get started on your real estate journey, give our expert realtors a call at (561) 220-5015 or fill out the form below with the requested information. We will happily send along our complete guide to avoiding legal issues when buying or selling a home.
We look forward to hearing from you and assisting you through the entire process in Delray Beach!