When you're buying a home, there are a number of important legal issues to be aware of. Remember, this is a complicated process and when major investments are being transferred from one party to another, no legal detail should be overlooked.
It is important to protect yourself when it comes to buying a home. Avoid these legal mistakes:
- Home Inspection Clause: Many buyers have found themselves in trouble due to the wording in a home inspection clause. Make sure the clause gives you the right to withdraw your offer if you don’t like the results of the inspection. Work closely with a lawyer who is experienced in these types of transactions to make sure the nuances of the clause protect you.
- Survey Clause: Make sure to ask to add a survey clause to your real estate contract. The seller may have had a survey done but if they’ve made any additions to the home since that survey was completed, it is no longer up to date. Have a new one drawn up at the seller’s expense. The real estate agent should provide you with the most recent survey, but it is up to you to do decide if that survey is acceptable or not. If you find an issue with the clause, you should speak to your lawyer, especially if you are unsure of the ramifications it involves. The wording of that clause could save you, or cost you, thousands of dollars.
- Swimming Pool Clause: Additionally, if the home you want to purchase has a swimming pool, it is important to ensure there is a legal clause included which provides a warranty for the pool to survive closing. This ensures the pool is in good working order at the time of close. If not, it can be very costly for sellers down the road.
If you are in the process of buying a home and need legal assistance due to any situation that has arisen, contact the team at Fakhouri Law Group. From business attorneys to real estate transactions, we cover a wide range of law and can give you the legal representation you need. Contact us today for a consultation.