Buying a house is not just about finding the right property, it’s also important to consider many legal issues. If you don’t plan and become knowledgeable in these areas of law-you could find yourself susceptible to trouble when buying the home. The following are some legal issues that can arise during real estate transactions:
Unwanted claim in the house
When buying the house, there is a chance that an ex-spouse or former domestic partner of the seller may claim they have their share in the house. They can lodge cases with courts and you could find yourself involved legally if not properly protected.
MISREPRESENTATION
The first thing you need to know about misrepresentation in real estate law is that it’s not just lying. It means hiding or misstating some important details and features of the house, which can be costly for buyers down the line if they don’t find the problem beforehand.
Failure to make council enquiries
Investing in a house is an investment with the potential for long-term returns. But before you buy, make sure to ask about any restrictions on the land that might affect your plans and investments because these can be imposed by local authorities or other entities.
Real Estate Fraud
There are many different types of fraud, but in real estate fraud, one person falsely represents another’s property as their own and causes that individual to suffer a financial loss. The seller isn’t necessarily an owner but you end up paying the price of the house to that person.
House buyers often face several legal issues when purchasing property, however, we can help you avoid them. Give us a call on (813) 773-5888 or send an email at remaxfloridateam@gmail.com for more information.
