California Real Estate Law

Purchasing California real estate: know your rights
The real estate market across the US varies in the laws it adheres to, since each state follows a different set of rules. Understanding the laws which apply to your particular state can help you avoid being scammed, and make a well-informed decision. Real estate is a serious investment, and it is a good idea to know how far the law protects you in a transaction.

What are my rights?
Depending on the state you are in, you are offered different rights. Residents of California will have to follow laws for that particular state. As a consumer, here are the provisions in the law which you can use to your advantage.

The first among these is the ability to interview and hire whomever you wish to help you in the purchasing process. Sometimes the seller may insist in having the house evaluated by a real estate agent of his choosing. This is not advisable, because it could provide you with a biased insight and leave you stuck with a problematic piece of real estate. Always insist on using an agent or professional whom you have previously done business with. This is in order to get an objective opinion. An additional safeguard to this measure is the Copy of Agency Disclosure Form, which the seller’s real estate agent must fill out to clarify the relationship between himself/herself and the client.

California real estate laws also allow the consumer to carry out various tests on the real estate you wish to buy, assuming you are purchasing property on the real estate. This includes cracked slab testing and checking for mildew. Should the seller prevent you from doing so, he is liable to face penalties as well.

It may also happen that you like a certain real estate and decide to purchase it, but you discover that the place itself or its neighborhood is not to your liking once the transaction is complete. In the state of California, you are allowed a 17 day grace period in which you can disapprove the property without fear of any penalty. However, if you decide to reject the real estate beyond this time, you will need to follow a separate procedure.

If you are unsure of the legalities of purchasing real estate, California real estate law also gives you the provision to have all documents placed under review of an attorney. You will have to bear the expense of the lawyer and any other costs, but the process will help you scrutinize the documents before putting your name on the dotted line. Having a professional evaluate the fine print is a good way to protect yourself from future legal action.

Lastly, if you decide to purchase the real estate and the transaction is complete, you have full right to move in to the property immediately. The seller will not have any further claim to the real estate, unless you are renting the property. In this scenario, you can also negotiate moving in at a later date.

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