Are you prepared to handle the cascade of laws, regulations and obligations arising from selling and purchasing real estate? Tom McGlaughlin and North Star Legal Services, LLC will ensure you’re compliant and protected.
Real estate purchases and sales in Dauphin County are more complex and high-stakes than ever before. New construction and available land are increasingly scarce, and residential and commercial real estate prices continue to soar. Whether buying or selling real estate in Lower Paxton, PA or Dauphin County, there’s a mountain of legal and regulatory detail to attend to.
You may not know everything you need to know about navigating a real estate transaction to your best advantage. Even a real estate agent doesn’t have the depth of knowledge to deal with the legal complexities that can arise in real estate sales. Misrepresentations or lack of due diligence can result in costly mistakes and financial loss.
For the first-time home buyer and seller, there are many stages to learn about in the sales process - offers, negotiations, sales agreement, the seller’s disclosure, inspection, appraisal, financing, title search and settlement date. With all of the paperwork and complicated contractual obligations involved in real estate sales, how can you be sure of getting the value you seek and expect?
A real estate transactions lawyer is your best resource to guide you through the labyrinth of today’s real estate market. Fortunately, a skilled and trusted real estate law firm already serves Lower Paxton Township. Tom McGlaughlin founded North Star Legal Services, LLC, to help clients like you reap the benefits of experienced legal counsel in residential and commercial real estate transactions.
Tom McGlaughlin will be involved, engaged and helpful at every stage of your real estate sale, purchase or dispute. With more than 25 years of experience in real estate law, he has represented and counseled clients on such diverse issues as commercial leases, easements, building lot procurements, construction defects, zoning laws and more.
The Seller's Property Disclosure Statement is a legal requirement for selling residential property in Pennsylvania. The disclosure is a key element in the buyer's determination of the property's value. In the statement, a seller must disclose to the buyer "all known material defects about the property being sold that are not readily observable."
A "material defect," according to the Pennsylvania code, would be one that would adversely affect the property's value or pose an unreasonable risk to someone on the property. The seller must also disclose any defects they rectified or repaired before signing the disclosure statement. Examples of relevant and potential defects could include:
This list is not exhaustive, but it provides strong context to the conditions that adversely affect a buyer's perception of the property's value in a negotiation. While it's reassuring to know the seller must disclose these defects, it's also worth noting that the seller must disclose specifically "known" defects.
If a seller has not lived on the property or if the property was new and never occupied, a seller could argue that they were unaware of a defect discovered later by the buyer. There is also the possibility that the seller didn't know of a given defect or didn't consider a particular defect "material."
For these reasons, the buyer never relies solely on Seller’s Property Disclosure Statement; they would also schedule an inspection of the property. An inspector's findings and recommendations can fill in many gaps omitted from the disclosure statement. When the time comes, a skilled real estate contract attorney will be able to review the disclosure statement and the inspection report to advise their client about how to leverage that information in negotiating the terms of the sale.
North Star Legal Services, LLC | Elizabeth Town, PA
Are you ready to feel confident and secure in the outcome of your next real estate transaction? Hire a lawyer with years of experience in every facet of real estate law. Now more than ever, real estate transactions happen with lightning speed. If you’re ready to buy or sell, contact Tom McGlaughlin for an initial consultation.
The information you obtain at this site is not, nor is it intended to be, legal advice. You should consult an attorney for advice regarding your individual situation. Contacting us does not create an attorney-client relationship.
