Getting started on buying or selling a home
Even in a small state like Connecticut, the customs and procedures used to transfer real estate vary significantly from county to county. For example, in Fairfield County, attorneys usually draft the contract. In the other counties in the state, the real estate agents tend to use preprinted forms to create the contract. Using skilled professionals will help avoid problems later in the process.
The first stage of the real estate transaction is creation of the contract. There are very specific rules which control whether a contract is binding or not. In the second stage, the purchaser gets the chance to thoroughly inspect the property and see if they are able to qualify for a mortgage. The final stage is the closing, where all the necessary legal documents are signed and ownership of the property is transferred.
Many real estate transactions go very smoothly, but unfortunately others have major problems which require professional advice. Some of the common problems result from underground oil tanks, defective septic systems or wells, lead paint, asbestos, termites, and structural problems due to the age or poor maintenance of the property. Most problems can be solved on reasonable terms with the aid of experienced professionals working on your behalf.
Buying or selling a home is one of the most significant financial transactions you will be involved in. Make sure your interests are protected by utilizing experienced local professionals.
DISCLAIMER: This site and any information contained herein are intended for informational purposes only and should not be construed as legal advice. See competent counsel for advice on any legal matter.