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Top 10 Legal Mistakes Homebuyer Make

  1. 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 agreemetn before checking title records, liens, and other thigns 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 disclosure.
  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.

Source: C.A.R. Legal Department (California Association of Realtors)

A good buyers agent will help guide you through this list and help you understand each and every one of them.  Contact Laura Key for more info: 310.866.8422 or Laura.A.Key@gmail.com