Archive for the ‘Contracts’ Category

Top Ten Legal Mistakes Home Buyers Make

Tuesday, August 28th, 2012
  1. Agent on Duty

    Agent on Duty

    Not realizing that if you don’t write a strong offer to purchase, the seller may reject or not respond to your offer.

  2. Not realizing that if you don’t write a strong offer to purchase, you may lose the property to another more highly motivated buyer.
  3. Not realizing that, without a confidentiality agreement, a seller need not treat your offer as confidential.
  4. Not understanding when a contract becomes legally binding.
  5. Entering into an agreement before checking title records, liens, and other things to ascertain whether the seller will be able to close escrow as scheduled
  6. Not understanding the legal implications of loan and inspection contingencies, and other contractual provisions,
  7. Not obtaining a seller’s disclosures.
  8. Not conducting your own inspections and investigations as the buyer.
  9. Not fully considering the legal, tax, credit, and other ramifications of homeownership, especially co-ownership.
  10. Not properly handling a claim for property defects discovered after close of escrow.

Thanks for reading this blog and I welcome your comments.

-Sylvia E. Miller
Cell: 805-448-8882

Remember my virtual compatriots, until we blog again, “Always Look on the Bright Side of Life” (from Monty Python)!