Every homebuyer has certain legal rights to protect their interests. Below are some of these rights.
Right to Be Free From Discrimination
You have a right to go through the purchase process without any form of housing discrimination. Any form of discrimination is bad, but the Fair Housing Act forbids some specific forms of discrimination. For example, a home seller shouldn't discriminate against you based on your:
- Sex
- Race
- Disability
- Religion
- Familial status
Note that discrimination can be blatant or subtle. You might not spot subtle discrimination if you don't know what to look for. However, a lawyer helping you with the purchase process will spot such things.
Right to Information
A successful property purchase involves tons of information, which you need to make an informed decision. You have the right to all the relevant information, including the following.
Seller Disclosures
Disclosures include all the relevant facts that affect the property's value or desirability. Disclosures on things you cannot see are particularly necessary. The necessary disclosures vary by state. Here are some of the disclosures Florida requires:
- Radon gas danger
- Mandatory HOA (homeowners association) membership
- Legal disputes, such as boundary disputes
- Wood-destroying pests, such as termites
Again, a lawyer can help confirm that you have all the necessary disclosures.
Encumbrances
Encumbrances are third-party claims on a property. Examples include:
- Existing mortgages
- Tax liens
- Easements
Encumbrances affect the transferability of property and can affect your legal right to the property after purchase.
Document
Lastly, you have the right to relevant documents related to the sale. Examples include the title deed, seller's affidavit, and bill of sale (if the agreement includes personal property).
Right to Fair Appraisal
A property appraisal is a professional estimation of the property's fair market value. Lenders use appraisals to ensure they don't loan you more than the property's worth. An appraisal also helps you avoid overpaying for a house. Ask the appraiser to reevaluate the appraisal report if you suspect inaccuracy. You can also commission an independent appraisal.
Right to Inspection
The average person cannot determine the condition of a house since some defects are not always visible. A professional property inspector knows what to look for to determine the property's true condition at inspection time. For example, the inspection will reveal pest damage if the property has suffered the same. You also have the right to choose the property inspector.
Right to a Walk-through
An inspection will reveal a property's true condition, but a lot can change between the inspection and closing date. You have the right to a final walk-through to confirm that the house's condition hasn't significantly changed before closing. You can also use the walk-through to confirm that the seller has completed the agreed repairs and included everything you agreed upon.
Right to Walk Away
Lastly, you have the right to walk away from the deal before signing the final closing papers. You can walk away from the deal without any repercussions if the seller hasn't accepted your purchase offer. Once the seller has accepted your offer, your ability to walk away without repercussions depends on:
- The stipulations on the contract
- Your reasons for walking away
For example, you can walk away without a penalty if the seller hasn't met a contingency you included in your purchase offer. Note that no one can force you to purchase a home even if you just change your mind and no longer want the house. The worst that can happen is that you will lose your earnest money.
You can lose money or miss your dream house if you don't understand your rights. Donald B. Linsky & Associate PA will ensure you understand your rights, the purchase process, and your legal options if any of the parties to the purchase infringe on your rights. Contact us for a consultation to determine how to help you best.
