Buying a house is an exciting experience. When you search for a house, you take care of many things, from choosing the right neighborhood to getting the best lawn chairs. However, there are also some legal issues that you need to take care of when you buy a house to avoid future hiccups. Contact
Arturo R. Alfonso P.A. today, to get all the information you need before buying a house. We are experienced in the court system in the areas of housing and land ownership. Our vast knowledge and expertise provide legal counsel for real estate law and help you purchase a house quickly, without anyone scamming you off.
Before Buying a house, here are ten things that you need to know.
- Strata titling:
Strata titling is a form of titling that is for multilevel apartment blocks or horizontal subdivisions. If you’re getting a condo or other unit within a larger structure, you might want to give legal implications some attention. Strata titling will give you legal ownership of the property in case there is combined ownership.
- Know Where your property ends and starts:
When buying a house, you would need to get a property survey. By doing so, you’d get to research the legal description of your land and survey the history. These surveyors will go to your property and sketch out the boundaries and different property elements to explain to you where your property starts or ends legally.
- Get proper seller’s disclosure:
When you are purchasing a house, it is necessary to get a seller’s disclosure. It is a legal document that tells you about the problems and defects that the home has. The seller must let you know about all the issues that might be wrong with the house. If any issues arise after purchasing the house, the seller knew before but didn’t tell you. He can be held legally responsible.
- The Legal contract:
When you buy a house, you’d need to sign contracts before signing any documents. You need to have a thorough read and see if you can negotiate. You can even add your points if you want. That is how getting a legal attorney can help you amend the contract and mold it to suit you best.
- Insurances:
When you buy a house, another thing that you need to keep in consideration is getting home insurance. The mortgage investors would require you to get home insurance to protect your house which is their investment if there is any calamity.
- Down Payment:
Before buying a house, it should be known that since you wouldn’t be able to pay all of the money together, a down payment is required. However, there can be much compilation that can come along with it; that’s why it is required to get a legal attorney to help you out with such matters.
- Think Long Term:
When buying a house with your spouse, the law usually determines how your assets are distributed if divorced. However, if you are buying a house with your significant other that is not your spouse, you need to think long-term and plan an exit agreement with your attorney if things go south.
- Your student loan debt:
This debt has negatively affected many buyers. And suppose this debt is in deferment, and you plan to buy a house. In that case, it is suggested to enroll in an adequately documented income-based repayment plan to have the documents required to buy your lender to access your liability.
- Property title:
Before buying a house, ask the seller to show you the documents to ensure that the property belongs to the said owner. You can also check out the neighborhood or the society or issue notices in the newspaper calling for claims regarding the property.
- Examine the Master Plan:
When purchasing a house, the buyer should examine the master plan to know that the developed house follows the zoning plan. The actual use differs from notified zoning, but obtaining orders from the town planning authority to change land use is necessary.
Conclusion:
If you never bought a home before, the process of it can be complicated for you. Therefore, that’s why it is necessary to do some research before buying a house to understand all the aspects. Above are the ten things you need to keep in mind when looking for a home. Contact Arturo R. Alfonso P.A.today to get legal counsel for real estate law. We have expertise in all sorts of land ownership issues and can help you get a great deal. Call us at (305) 266-9584 or email us at arturo@arturoalfonsolaw.com if you are looking for a legal advisor and attorney to help you in your journey of getting a house to avoid future legal problems. For more information visit, https://arturoalfonsolaw.com/.