When the local and national economies are in good shape, the housing market is usually in good shape too. For those who are selling real estate in Southern California, times are good. However, there are deals for buyers who are willing to do their homework and understand the legal implications of buying and selling real estate.
According to reports, statistics show that the housing market in Southern California is staying strong; even getting better with each month. Reports indicate that home prices have climbed 2% on a year-to-year review and that sales of homes jumped a whopping 8.2%. Mortgage interest rates are at near-record lows which, according to the report, has likely played a role in buyer interest in jumping into the real estate market nationwide and in Southern California.
But, as strong as the real estate market might seem, it is always prudent for both sellers and buyers alike to protect their legal rights. After all, purchasing a home is one of the biggest financial commitments that most people make in their lives. It is important to get it right.
While all of our readers likely know that the sale of a home involves an offer to buy, a purchase agreement and then a closing where the parties sign lots and lots of paperwork, there are nuances to these transactions that can make them difficult. Anyone in Southern California – buyer or seller – should be sure to review their legal options in any given real estate transaction and make sure they are making the best decisions.