When you are in the process of buying property, make sure you take care of any foreseeable issues beforehand and not later. It is a process that should not be taken lightly. Purchasing property is a big investment and can be quite exciting but if you are not careful there can be real legal issues that may arise during this process or even later down the line.
The process of purchasing property is a very delicate one because you have to make sure everything is done precisely. Do not assume everything is fine when you are about to buy a home. The house may have serious plumbing and leaking issues and the owner failed to disclose this to the buyer and sold the buyer the property without telling the buyer of the serious issues at hand and if this happens:
1)The buyer can then file a lawsuit against the owner including the agent for not disclosing these issues at the time of purchase even if the inspector does not find these issues.
2)If the new owner has to spend their own money to fix the damages that the new owner can go after the previous owner to recoup the cost of all repairs for not letting them know of the already existing serious problems they should have known about.
3)Almost all states practice the home purchasing disclosure law which says the owner must disclose any problems or defects in the home that they as the owner are aware of or they should be aware of. Some of these other defects can be:
- Damaged Roof
- Drainage issues
- Electrical issues
These are just some examples of existing problems that the previous owner did not make you aware of and it is also the responsibility of the real estate agent to recommend to their prospective buyer about having a property inspection to ensure everything is as the previous owner says it is because no one wants to be surprised with unexpected issues and repairs that should have been disclosed beforehand.
If you visit website it will help with some of these legal issues you want to try to avoid. No matter how big or how small you may think the issue is it is crucial to always document and resolve any and all issues beforehand because if this happens it means that later down the line when you come to realize these existing issues.
Then blame the real estate agent for not finding out these issues beforehand or they will bring it back to the previous owner who will more than likely try to act as if they had no knowledge of the issue and not claim it as theirs because you the new owner signed property documents confirming everything was in good condition as stated on the contract when you purchased the home and this problem has now become your problem and not to mention the unnecessary legal issue it will definitely bring. This is what you primarily want to avoid.
The Importance of Trust as a Real Estate Agent
So the best way to solve having any legal issue when you purchase property is to hire your own inspector and have them asses any damages that may be found, address it with the owner and come up with a resolution before signing buying any property. Always remember when buying a home the old adage of Buyer Beware. You want to be sure that all of your documents on the property are disclosed properly before signing because as a real estate agent, your clients are putting a lot of trust in you in helping them find a slice of heaven.