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Problems when buying a home can be costly and stressful

| May 27, 2021 | Real Estate Law |

Purchasing a new home can be an exciting step for any prospective homeowner in Florida. However, this process can be anything but straightforward, and unexpected setbacks and complications can cost a buyer time and money. If problems arise when buying a home, a buyer will find it helpful to know how to deal with these issues and what to do to protect his or her interests. 

Common problems with big consequences  

There are two common issues that often arise during the homebuying process. The first is an issue with the inspection. During this step, problems with the integrity or safety of the home could come to light. If it is relatively minor, the buyer could negotiate for the seller to fix it or take money off the price of the home. If the problem is major, the buyer may consider backing out of the contract. 

A second common problem is an appraisal coming in much lower than expected. If the home doesn’t appraise for as much as what the contract states the buyer is paying, it can derail the entire sale. At this point, the buyer may have to walk away completely or renegotiate the price.  

Protecting a buyer’s interests 

A Florida buyer would be wise to protect his or her interests at every step when buying a home. This is why it is helpful to work with an experienced real estate attorney from the beginning. If there is an issue, a legal ally can help one avoid extra costs and make practical decisions.  

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