Costly Legal Issues Could Hurt You Buying or Selling a Home in Durham Region

Costly Legal Issues Could Hurt You Buying or Selling a Home in Durham Region
Avoid Costly Legal Issues with this Free Guide

Costly legal issues get expensive fast when you buy or sell a home in Durham Region

Whether you’re a homebuyer or seller looking to make a deal, it’s going to involve agreements and legal documents. If you make a mistake buying cereal, it’s no big deal. But if you make a mistake buying a home in the Durham Region – it could cost you huge amounts of money.

Since most people aren’t dealing with real estate sale agreements every day, it’s understandable that you might not know exactly what to look for. Especially when legal jargon needs to be so specifically worded to be effective.

If you don’t know how agreements are written, what questions to ask, and how to make sure your legal documents cover everything they need to, you could quickly find yourself in a financial bind with fees or loopholes that benefit another party. We outline costly legal issues to avoid in this free report.

And worse than paying a little extra unnecessarily:

  • You could waste months trying to untangle legal messes
  • It may be impossible to back out of large fees if a deal falls through
  • There could be legal consequences if something goes wrong

In my free special report called, “Legal Mistakes to Avoid When Buying or Selling a Home,” I outline some of the most common errors people forget to check on when they buy or sell a home in the Durham Region.

Costly Legal Issues: Don’t lose your shirt on unclear brokerage agreement terms

It’s extremely important to protect yourself as a homeowner. Most people only buy or sell houses a handful of times, at most, during their lifetime. It’s easy to get the short end of the stick when you’re up against experienced investors and realtors looking to make money.

One of the most common mistakes people make is failing to make sure their brokerage agreement covers every situation. 

If your real estate agent uses a standard form, check to make sure it is thorough and has language that protects you even if the deal falls through. You don’t want to end up liable for commissions you shouldn’t have to pay.

If you sleep on the purchase agreement, you’ll regret it

Beyond checking your brokerage agreement, one of the most important legal documents is the purchase agreement. If you don’t know what to look for or what questions to ask, find an expert who can help you navigate the jargon.

Here are some important questions you may need in the purchase agreement:

  • What happens if a home buyer gets an inspection and termites, asbestos, radon, or lead-based paint is found?
  • What if the home has hazardous waste?
  • If the deal doesn’t close, what are the legal outcomes?
  • Who gets the down payment if the deal falls through? 
  • According to the escrow instructions, will a lawyer hold the down payment in escrow? 
  • How is the down payment to be made?

You should also make sure to get commitment for financing from your lender before you make a down payment. This has to be worded the right way also to protect you.

If you didn’t automatically ask these questions in your own mind before buying or selling a home in the Durham Region, it’s not just you. There are other important considerations as well that experts in the industry who have seen hundreds of deals close can help you with. To learn more, read here.

If you buy or sell a home in Durham Region, Your Home Sold Guaranteed Realty of Ontario Inc. will help

By now, you may be feeling overwhelmed with all the possible questions you’re not asking about necessary legal documents on your real estate deal. But there’s nothing to worry about if you have the help of good real estate agents in Durham Region and around Ontario.

My team at Your Home Sold Guaranteed Realty of Ontario Inc. has not only created a special report to help you avoid costly legal errors, we’re also ready to answer specific questions you have about your situation.

Bring your concerns to one of our expert real estate agents or call us at (905) 440-0505. There’s no obligation and you’ll get access to free resources and tools to help you make a great real estate deal.

The market in popular areas around Ontario is competitive and homes are appreciating quickly. Buying or selling a home today requires fast action and strong conviction. Don’t let your home purchase or sale go awry or cost extra money because of legal roadblocks.

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(905) 440-0505