Because real estate transactions involve massive sums of money and immovable property, they’re governed by a complex legal system, designed to protect the rights of property owners and sellers alike. Even minor mistakes in the paperwork or going without a real estate attorney can invalidate the sale entirely or leave you responsible for thousands of dollars in additional expenses. Understanding your responsibilities under the law before the sale can prevent expensive mistakes and unnecessary delays later.

Your Real Estate Law Questions Answered

Is the Seller Responsible for Defects Discovered After the Sale?

In most states, sellers are required to disclose any known defect about the property that would affect its value. If they misrepresented certain aspects or offered a warranty on the house, you might be able to collect compensation for repairs. A real estate attorney can review your purchase agreement and help determine your legal options.

What Defects Do I Have to Disclose When Selling?

Each state has different guidelines establishing what sellers are required to disclose. In Ohio, sellers must fill out a form describing known major defects and present it to the buyers upon request. Even if you’re given a copy of the form, you should still hire a home inspector to confirm the information and identify any additional issues.

Why Is Title Insurance Required?

During a real estate sale, the title company will search public records to confirm that no other parties have a claim to the property. If they make a mistake, title insurance will pay off any liens or other title defects, potentially saving you thousands of dollars.

Do I Need a Real Estate Attorney?

Because you will be signing contracts and transferring large sums of money, you should always have a real estate attorney guide you through the process. In addition to performing their own title search, your attorney will follow the law and review the contract to ensure your best interests are protected.

Whether you’re listing a property for sale or buying a home, Dennis P. Faller, Attorney at Law, in Wapakoneta, OH, has the legal expertise to protect your investment. This real estate attorney has helped clients throughout Auglaize County navigate every aspect of the process, from property sales to tenant evictions. Visit their website or call (419) 738-4578 to schedule a consultation, and follow their Facebook page for more legal tips and advice.