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What Is a Home Sales Transaction?
Putting up a house for sale can often be a complex project. Home sales transactions can involve properties that are worth a lot of money and, in many cases, hold a lot of sentimental value for the owner. Home sales are sometimes conducted solely between the owner and a buyer.
However, in most cases an agency relationship is necessary, as the transaction can be complicated. In many cases, each party may be represented by real estate brokers, agents, lawyers, and other professionals.
What Are Some Common Legal Disputes in a House Sale?
When dealing with a house for sale, certain legal disputes can often arise. These are often connected with very specific real estate issues, such as:
- Defective titles
- Real estate fraud
- Issues with securing a mortgage (usually, closing is not possible until the buyer is able to secure a mortgage)
- Disputes involving real estate listings
- Disagreements regarding the valuation of the property
- Issues with previous ownership, deeds, titles, and inheritance laws
Lastly, any number of disputes and issues can arise in connection with a real estate contract. For instance, there can be disputes over the final sales price, payment terms, or other issues. A breach of real estate contract can also lead to a lawsuit.
What Are Some Legal Remedies for Home Sale Disputes?
In many cases, home sale disputes may require litigation to fully resolve the conflict. This can often end up with a damages award being issued to the non-violating person or party. A damages award can often help make up for losses associated with non-payment, fraud, or other violations.
In some cases, a quiet title proceeding can help to resolve the issue. These proceedings are needed when there is issue regarding the title (i.e. disputes over the true owner of the property, as well as other issues such as debt or easements). The quiet title proceeding may help clear the title of any encumbrances and thus make the property marketable.
Do I Need a Lawyer for Assistance with a Home Sale?
Selling a home or other residential property can involve a number of different legal issues. Each transaction is different, and state laws can also vary. You may need to hire a qualified real estate lawyer if you need legal assistance with a home sale. Your attorney can provide you with advice and can help review and edit documents related to the transaction. Also, your lawyer can be available for representation if you need to appear in court due to a legal dispute.
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Last Modified: 08-27-2014 04:40 PM PDT
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