Laws regarding your real estate purchase
Purchasing real estate can provide a home for your family, an area for recreation, a storefront for your business or an investment for the future. Along with the excitement comes the stress and worry about taking care of all details and ensuring that everything is completed on time. Even if you have previously made a real estate purchase in Missouri, there are several things that can go wrong with the transaction. We at TDD Attorneys at Law can provide knowledgeable guidance and experience to make the process as simple and smooth as possible.
Cornell Law School’s Legal Information Institute states that there are several things to be aware of as you prepare to complete your purchase. Realize that discrimination can take place during a transaction. Be aware of any decisions made that could be based on your skin color, national origin, race, sex or religion. The Federal Fair Housing Act was created to prevent this type of harassment, but being aware of the problem can enable you to recognize discriminatory acts and seek legal assistance.
There are many other laws and regulations of which you should be aware. The piece of real estate that you are purchasing must be marketable in order to be sold. Purchasing real estate when the seller does not have the proof of title to all parts of the property may be a sign that you are engaging in a fraudulent deal.
If third parties have undisclosed interests in the title, this may be another sign of fraud. For more information regarding this topic, please visit our web page.