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The commitment of buying a home together

On Behalf of | Feb 20, 2018 | Residential Real Estate

Buying a home may be one of the most significant purchases a person makes. For Delaware couples who decide to purchase a home together, it can turn out to be more of a commitment than getting married. Engaged couples who decide that they no longer want to get married can simply end their engagement. However, if they have purchased a home together, the financial entanglements can make getting rid of the home a complicated process and might result in a major financial loss.

The financial costs for improving the condition of a home can be much higher than for counseling for a troubled marriage. If a couple is unhappy with the state of the electrical wiring, plumbing, size or layout of the home, they should expect to pay thousands of dollars. Homes also require maintenance and repair, and homeowners do not have the luxury of ignoring issues with the home, some of which could develop into substantial and expensive problems to solve.

Separating oneself from a home can also be more difficult than exiting a marriage. In order to get rid of a home, it will be necessary for someone to purchase it. Until it has been sold, the homeowner is responsible for home and the costs associated with it.

An attorney who practices residential real estate law may assist clients who want to purchase or sell a home. The attorney may be able to provide numerous legal services such as the review of real estate agreements, the negotiation of purchase agreement terms or litigation to resolve disputes regarding title issues. The attorney may also assist with administering real estate closings, seeking financial damages for the lack of disclosure or overseeing short sales.