When it comes to buying or selling a home, we all hope for a smooth and hassle-free process. However, there are times when unexpected problems arise that require the expertise of a seasoned real estate litigation lawyer in Charlotte. Whether you're a buyer, seller, or real estate agent, understanding the potential challenges and having the right legal support is crucial in protecting your interests.
Termination of Contracts: When Breakup Seems Inevitable
One common issue that can arise prior to closing a real estate deal is the question of contract termination. In North Carolina, the standard Offer to Purchase and Contract outlines the circumstances under which a seller or buyer can terminate the agreement. Generally, buyers have more flexibility to terminate the contract, especially during the due diligence period. To avoid any complications, buyers should work closely with their realtors and home inspectors to uncover any hidden defects. Despite these precautions, contract disputes may still occur, ranging from the distribution of earnest money deposits and due diligence fees to the question of liability for other damages upon termination.
Navigating New Construction Contracts
If you're purchasing a new construction home from a developer or builder, thorough due diligence is essential. Prior to signing any documents, make sure to carefully review all the details. If promises or representations are made by the sales agent regarding the property, adjoining lots, or planned amenities, it's vital to have these assurances put in writing. Our experienced attorneys are frequently sought after to provide guidance and even litigate these contract disputes with developers or builders.
Unveiling Misrepresentations: Seller's Disclosures and Buyer's Due Diligence
Another common disagreement in real estate transactions involves allegations of misrepresentations. When a seller lists their home, they are generally required to complete and sign a disclosure statement. It is crucial that sellers meticulously and honestly fill out this document, consulting with their listing agents to avoid any misrepresentations. Sellers have a duty to avoid making false statements about their property, while buyers have a responsibility to exercise due diligence and thoroughly inspect the home. Our firm frequently handles disputes where allegations of misrepresentation arise after the closing, particularly when buyers discover hidden problems or defects that the seller may have been aware of but failed to disclose. These issues can range from water intrusion, plumbing, and HVAC problems to boundary disputes, mold or mildew, and even HOA assessments.
The Role of Real Estate Agents: A Balancing Act
Real estate agents play a vital role in the purchase or sale of a property. A skilled agent can often prevent these property disputes from occurring. However, even the best agent has limitations if a buyer or seller is not acting reasonably. In cases where a real estate agent's professional duties are called into question, our firm provides guidance and support to navigate these complex situations. We have also successfully represented realtors in defending complaints to the North Carolina Real Estate Commission.
Partner with an Experienced Real Estate Litigation Firm
With our extensive experience in real estate litigation in Charlotte and nearby cities, Thurman, Wilson, Boutwell & Galvin P.A. is fully equipped to handle your unique situation. We approach each case with a deep understanding of the complexities involved, offering a wide range of options to safeguard your interests. To schedule a consultation with one of our knowledgeable Charlotte real estate litigation attorneys, call (704) 377-4164 or fill out our online form today.
Picture: Real Estate Litigation Caption: When unforeseen challenges arise in the real estate process, having an experienced real estate litigation attorney on your side is crucial.