When to Contact a Lawyer on a Real Estate Dispute
Real estate disputes come up all the time – and in a fluctuating market like the one we’re in today, they are much more common. Both sellers and buyers find themselves in the process of pursuing litigation or defending themselves against claims. Your real estate agent is an important advisor in any real estate transaction, but how do you know when you need to get in touch with a real estate lawyer?
We’ll cover the three most common real estate disputes and how to know when you should consider consulting a lawyer.
What are the most common real estate disputes?
Buying a home is likely the largest financial transaction most people make. It’s disappointing when an unexpected issue pops up, and it can add stress to the entire process. Let’s talk about some of the most real estate-related situations where disagreements can happen.
Breach of Contract
Because real estate transactions are heavily dependent on the contract, breach of contract claims are very common. Many real estate contracts are templated, so if you have a unique situation or want to ensure you are adequately protected throughout the transaction, you may want to have an attorney review your real estate contract.
One important thing to consider is that over 70% of real estate litigation happens on For Sale By Owner transactions (meaning the seller doesn’t use an agent and represents themselves). If you’re considering selling your own property, take some time to consider having an agent or a lawyer assist you with the contract.
Real estate litigation doesn’t just occur between a buyer and seller; it can be directed at the real estate agent too. If your agent doesn’t act in your best interest or they are in breach of their agreement with you, you should consider litigation.
It’s unfortunate, but real estate agents do make mistakes that cost their clients significant amounts of money. Whether it’s because of overlooked contract details or incorrect information that negatively affects the buyer or seller, you do have the right to take legal action against your agent.
Failure to Disclose a Property Defect
Let’s say you move into your new home, only to discover that the sewer line is damaged beyond repair. And what’s worse – the seller was aware of the issue and didn’t disclose it.
Property defects are common and a very valid reason for buyers to sue sellers. It’s critical that the buyer is able to prove that the seller was aware of the issue, not just that the issue exists. If the seller had no knowledge of the problem, there’s not a valid claim.
Working with a Real Estate Lawyer
If you’ve experienced any of the above situations, or you have questions about a transaction, you should consult an attorney. Real estate lawyers are well-versed in the unique property laws in your state. Don’t forget that every state also has varying statutes of limitations, so you need to file your case before the statute of limitations expires.
The McGonigle Law Team has represented individuals on all sides of real estate disputes, and we have the experience and insight to help you navigate your real estate issue.
Please get in touch with our team – we’re always available for a conversation about your situation.
The information contained herein is for general purposes only and does not constitute legal advice.
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