Concerned about legal issues in real estate when buying or selling a home? Buying or selling a property in Naples, Florida, is a significant financial decision.
Either process can come with some small but important legal issues. If you don’t know how to handle them, they can become major problems that cost you money and time.
In this post, our team at Your Home Sold Guaranteed Realty - The Cachon Team will discuss some of the legal mistakes you should avoid when buying or selling a home. That way, you can be as prepared as possible.
Have a Clear Brokerage Agreement
Buying or selling a home begins with finding the right realtor. Before you agree to work with an agent, you should carefully review the terms of their brokerage agreement.
Specifically, you should review the agreement to make sure it covers potential legal issues.
The agreement should outline the realtor’s responsibility in any given situation, as well as what you’re expected to do. It should also protect you from any liability that may arise during the buying or selling processes.
Many realtors use standard forms for their listing or home buyer agreements, which may not cover every potential legal issue.
Be sure to go over every point of the agreement with your realtor and have them explain it clearly before signing.
Review Your Purchase Agreement Before Closing
If you’re buying a home in Naples, Florida, your purchase agreement is the most important document in the transaction. It addresses several legal questions, such as:
- How will the home buyer pay for the property?
- What if the property is found to contain hazardous materials or a pest infestation during the home inspection?
- What happens to the down payment or escrow money if the closing falls through?
If you’re on the selling side of the transaction, you should ensure the purchase agreement specifies the buyer’s financing responsibilities.
You should include a provision in the agreement that the deal won’t close until the home buyer secures financing from a qualified lender. This is the best way to ensure the transaction closes on time and there are no surprises.
If you want to learn about more legal issues in real estate transactions, be sure to read our team’s full guide on How to Avoid Costly Legal Mistakes.
This guide will give you the best tips to protect yourself and your investment, whether you’re a home buyer or seller.
To download your free copy, click on the button below.
Avoid Legal Issues in Real Estate With Our Naples Realtors
Ultimately, the key to avoiding legal issues in real estate transactions is working with an experienced realtor.
At Your Home Sold Guaranteed Realty - The Cachon Team, we’ve been serving home buyers and sellers in the Naples, Florida, area for years.
We’ve developed a reputation for high-quality customer service and fast selling speeds. In fact, we sell homes 37% faster and for 2.5% more than our competitors.
And for buyers, our realtors have excellent negotiating skills that they put to use to get you the best deal on your dream home.
In addition, we offer buyer and seller guarantees to all of our clients. These guarantees make real estate transactions as risk-free as possible.