In every real estate transaction, there are certain rights that are retained by the buyer. The rights of a purchaser should be explained by the real estate agent or a real estate attorney before any contracts are signed.
Disclosures
All buyers have the right to review any disclosures explaining any known defects or conditions of the property.
Home Inspection
Every buyer has the right to a home inspection once entering a purchase contract with the seller. Though time limits vary by state, after the inspection, the buyer has the right to ask for repairs or walk away from the deal.
Property Condition
When a buyer enters into contract to purchase, the property must be delivered in the same condition at the signing. If it is not, the buyer has the right to end the contract.
Financing
Within a purchase agreement are the rights to acquire financing for the purchase of the property within a specified time limit.
Professional Advice
Buyers have the right to enlist the services of real estate professionals such as an agent, attorney, appraisers and home inspectors. Each of these professionals owes the buyer due diligence to perform duties in the buyer's best interest.
Tags: real estate, buyer right, have right, purchase property
