Common Legal Issues in Home Sales

 Posted on December 27, 2023 in Business Law

The vast majority of people will probably never buy anything more expensive than a house. When you are in the process of buying a home, you have the option of working with only a realtor or bringing on an attorney as well. A realtor can help you find a house you like and make it through the closing process. However, there is a lot a realtor cannot do that an attorney can. An attorney can not only interpret an existing deed, but write a completely new deed if there are problems with the deed the seller offers. A qualified Greenwich, CT, real estate attorney can also conduct a more thorough and purposeful title search and potentially uncover other legal issues a realtor might not know about. It is best to work with a lawyer in addition to your realtor for this reason, among others

What Legal Issues Might Arise When I am Buying a Home?

Some of the more common legal complications that can arise when you are trying to buy your new house include:

• Title defects - If there is something wrong with the title, there might be something wrong with your ownership of the home after the sale is completed. One common issue is an unresolved claim somewhere in the chain of title - for example, if the house was sold without the knowledge of a missing co-owner who could resurface with a claim to the property. Most towns, including Greenwich, keep detailed land records

• Wrong deed type - The deed is extremely important - it represents your ownership of the house. There are different types of deeds, and using the wrong one could be a costly mistake. If you are offered a quit-claim deed, most attorneys would tell you not to accept it because it might not actually convey any ownership rights

• Contract disputes - There is always a chance that you could find out after closing that the seller has not upheld their end of the contract in some way. For example, you may find that a repair they promised to make has not been completed, or that they left out a significant fact about the house. An attorney may be needed to help resolve these disputes, with or without collapsing the sale

Home buyers should always consult an attorney before signing any binding documents

Contact a Greenwich, CT, Real Estate Lawyer

Ivey, Barnum & O'Mara, LLC knows what to look out for in a real estate transaction. Our practiced Metro New York Area real estate attorneys will protect your interest in the transaction. Contact us at 203-661-6000 for a free consultation