Frequently Asked Real Estate Questions
What is real estate law?
Real estate law governs laws and litigation which has to do with property – including buildings which are affixed to a particular piece of land. This includes homes, commercial property, or other types of real estate.
If I am purchasing or selling a home, should I hire an attorney to oversee the process?
In SC it is required for an attorney to handle the transfer of real estate property. Under state law they are required to have an attorney.
Is there anything I should do before purchasing a real estate property or land?
The title should be searched to ensure that the property is free and clear of any claims or liens. A real estate attorney can do this for you and ensure that it’s safe to go ahead and purchase the property or land you’re interested in.
What should I make sure of when I am purchasing a home?
Although it’s a great idea to consult an attorney before purchasing a home, there are several things you should make sure of. Make sure that all property which is supposed to go with the home is included in the contract. This may include appliances or other extras you were promised. It is also a good idea to have a licensed home and/or pest inspector check out the house.
What should I make sure of when I am selling a home?
You will want to make sure that there are no claims or liens against your property and determine what items or property should be included in the sale. You will also want to consider your lowest desired price and what you’re willing to accept. A good real estate agent and a property law attorney can help oversee the process and protect your interests. Prior to making an offer, if you will be obtaining financing you should speak with a loan officer to get a preapproval letter to know how much home you qualify for.
As a seller, are there any defects which I must disclose to the buyers before signing a contract?
You should disclose all defects, however, it is very important that you discuss your options with an attorney. If there are defects in the home and you do not disclose them, you could find yourself in court.
Are there any tips the buyer should heed before purchasing a property?
The buyer should spend time in the neighborhood to determine whether he or she will be happy there. They should also make sure the home is inspected and that there are no major problems that will drive up the cost of the home.
For a home being sold as-is who is responsible for major repairs?
Typically, for homes that are sold as-is, the buyer is responsible for all repairs which must be made. Again, speaking to an attorney is the best idea.
Get in touch! We can’t wait to hear from you.