Avoiding Legal Issues How to Avoid Legal Issues when Buying or Selling Your Home

The average American will spend more on a home than any other purchase in their lifetime. However, when finalizing the sale of a house, many people are unaware of the small yet crucial legal details.

If not properly taken care of, the legalities surrounding a large financial investment from one party to another can become very problematic.

Educate yourself to avoid making legal mistakes, like the following:

• experiencing significant financial loss
• Too much wasted time and hassle
• Potential legal repercussions 

A complimentary report has been assembled to guide you on how to sidestep expensive legal errors. To safeguard your investment when purchasing or selling a home, you OWE it to yourself to read this document IMMEDIATELY before it's too late.

Prevent Ambiguous or Unclear Terms in Your Brokerage Agreement

Buying or selling your home is a big deal, so you want to make sure that you're protected in the event of any legal issues. Make sure that the brokerage agreement covers all bases so that you can rest easy during this process.

Many real estate agents use standard forms to be thorough, but this practice can backfire. Oftentimes, key information is left out of these agreements, which could leave you liable to pay a commission even if a sale falls through.

The Purchase Agreement: The Most Important Document in the Transaction

Various legal questions may need to be tackled in the purchase agreement, for example:

• If the buyer plans to change the property, can that be done lawfully?
• What are the ramifications for buyers if a home inspector inspects the property and dangerous materials like termites, asbestos, radon, or lead-based paint is discovered?
• If the property is discovered to hold hazardous waste, what would happen next?
• If the closing does not occur, what legal penalties will result, and what happens to my down payment?
• Do the escrow instructions state that a lawyer will hold the down payment in escrow?
• In what ways can the payment be made?

Before a buyer obtains financing from a lender for most of the purchase price for a home, the purchase agreement should have a provision specifying that the buyer will get pre-approval for financing.

Real Estate Agents Who Will Guide You Away from Legal Trouble

By working with Your Home Sold Guaranteed Realty - The Watson Group, you will have free access to resources and guarantees that will help you steer clear of any legal issues.

To avoid any legal issues when buying or selling a home in Colorado, please fill out the form below or call us at 720-463-0002. We will be more than happy to provide you with a complete guide.