| Avoid These Legal Landmines
- Arbitration and mediation
You can always have a dispute arbitrated or mediated, but if you
sign an agreement to settle all disputes this way, you give up
your right to sue to seller.
- Disclosure problems
Many states require sellers to complete disclosure statements. If
yours doesn't, and the seller or agent failed to disclose a
serious defect in the house you bought, your only recourse may be
to sue. Always have a house carefully inspected for defects and
environmental hazards to avoid disclosure problems.
- Homeowners associations
Beware of complicated bylaws or faulty financial statements. An
association in trouble can threaten your happiness and financial
well-being.
- Title troubles
An unclear title can delay or prevent a purchase. If you can't
resolve it before you buy, the title contingency in your purchase
contract entitles you to back out. Most lenders require title
insurance, to cover problems after purchase.
|
|
|