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Richard
Richard, Lawyer
Category: Real Estate Law
Satisfied Customers: 54986
Experience:  32 years of experience as lawyer in Texas. I'm also a Real Estate developer.
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I WANT TO PURCHASE A CONDO IN MOON TWP PA. THE TRANSACTION

Customer Question

I WANT TO PURCHASE A CONDO IN MOON TWP PA.
THE TRANSACTION WOULD BE BETWEEN MYSELF AND THE CURRENT OWNER.
WHAT DO I NEED TO DO TO PROTECT ME LEGALLY? TITLE SEARCH?
Submitted: 10 months ago.
Category: Real Estate Law
Expert:  Richard replied 10 months ago.

Hi Kevin. My name is ***** ***** I will be helping you today! It will take me just a few minutes to type a response to your question. Thanks for your patience!

Expert:  Richard replied 10 months ago.

You'll need several things: i) you want to require the owner to provide you a title insurance policy, which will include the delivery of a title commitment prior to closing to see what, if any, encumbrances, exceptions, and liens on title that may exist that aren't acceptable to you; ii) you will want the owner to provide a real estate residential disclosure which forces the owner to disclose anything the owner knows that a buyer would consider material; iii) you will want the condo association to provide you a buyer's package which will contain any restrictions governing the title and any unpaid fees or pending assessments; iv) you will want to require a warranty deed; and v) you will want to engage an inspector to inspect the condo to see if there are any issues with HVAC, plumbing, electrical, etc. (and, you want to make sure the inspector has an infrared camera to detect moisture in the floors, walls, or ceiling.

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