Buying a home is not a decision to be taken lightly. For most people, it will be the largest purchase of their lifetime, so it’s critical that it’s done right. With so many details in everything from securing a mortgage to closing the deal, there is the potential for numerous hang-ups to occur along the way. To ensure a smooth and pleasant home buying experience, one of the most important things to be aware of going into the process is the rights that you have as a homebuyer. Several real estate laws have been put into place over the years to protect homebuyers and the investment they are each trying to make in their respective futures.

Protection From Predatory Lending

Going through all the steps to acquire a home loan that is realistically affordable can be stressful enough already without having to deal with the unfairness of predatory lending. There are strict regulations to prohibit predatory lending, which refers to a financial institution that exploits future homebuyers by tacking on unreasonably high fees and charging steep interest rates without a justifiable explanation.

Protection From Discrimination

The Fair Housing Act was developed to prevent any buyer from being discriminated against for reasons related to nationality, race, religion, disability, age, gender or family status when purchasing a home. This means that property owners cannot refuse to sell to someone for any of these discriminatory reasons. This real estate law also applies to mortgage lenders and government assistance programs.

Once a sale has been completed, it’s normal for a buyer to be eager to get moved in and settled, but there are some instances where the previous owner is reluctant to see that happen. Known as a holdover seller, they will actually protest leaving the property, making it the new owner’s problem to figure out how to have them removed from the premises. Luckily, with the help of a real estate attorney there are several provisions that can be written into the agreement before it comes to this that will give the buyer leverage and keep this type of circumstance from happening.

Protection From Non-Disclosure

Though disclosure laws may vary from state to state, it is generally a seller’s responsibility to be upfront about the condition of the house they are selling. They must reveal repairs made, termite activity, water damage, evidence of lead, risk of natural disaster and an infamous history. Failure to be fully honest about any of these subjects gives a homebuyer the right to pursue a lawsuit once the truth comes out.

Whether you’re just entering the housing market or are already knee-deep in the home-buying process, make sure you are familiar with the specific real estate laws in Redding, and don’t hesitate to contact an attorney for counsel at the first sign of your rights being violated.

If you are unsure as to whether or not you need to hire a Redding Real Estate Law Attorney, call the offices of Mark H. Cibula, Attorney at Law, for a consultation.