Acquiring a home in Texas can be an exciting exciting .yet daunting task. In many instances, couples regret the purchase of a home after they discover some defects in the construction that were concealed from them by the seller. Also, the independent evaluator that the buyer appoints discovers undisclosed material defects used in the construction of the home, which was misinterpreted by the seller, causing untold hardships and emotional distress to the buyer in the future.
To get legal relief an experienced real estate litigation attorney of Houston needs to be consulted and appointed. Under the provisions of the Deceptive Trade Practices Act of Texas any spurious misstatement said by a Seller during the sale of a home gives an opportunity to initiate a claim for compensation. Number of provisions pertaining to the manipulation of property per Tex. Bus. & Comm. Code §§ 17.46 (b) are designed to protect a buyer. On proving with proper evidence the misrepresentations made by the seller, the buyers are eligible to receive damage compensation under the Texas DTPA Statute.
If you are the victim of deceptive presentations which went undiscovered by your independent examiner during the house inspection, you could still be eligible for compensation. In case it can be proved circumstantially that the misrepresentation was intentional and defects were concealed by the seller, you may be entitled to receive economic damages under the DTPA. Economic Damages consist of reimbursement for any financial loss, the cost of repair or replacement of all defects. On winning the case, the buyer of the home is also eligible to receive the expenses incurred by him towards attorney’s fees and additional damages.
If a seller with prior knowledge misrepresented a part of the building to a buyer by concealing the fact of termite infestation or a defective foundation, some earlier repair work undertaken, electrical defects and if the same can be established beyond doubt then the buyer could be eligible to receive up to 3 times of the total amount of actual economic damage incurred by them consisting of the fees of the Real estate litigation attorney of Houston too. The DTPA is a consumer based protection statute constituted to protect the rights of normal rightful people when being taken advantage of owing to their insufficient knowledge in these matters.
Having a simple checklist can to a great extent minimize the chances of you being taken advantage of during buying a home in Texas.
- Take a home buyer education course to make sure you are ready to buy a home.
- Prepare a budget accounting for mortgage payment which is comfortable to you.
- Make a list of features you need and want in a home.
- Take your time, look at many homes, take notes and ask questions.
- Hire the services of a reputed home inspector to conduct an examination of the home’s condition and bring to your attention any issues that are present.
By following the above-mentioned steps and getting well acquainted with the Deceptive Trade Practices Act of Texas will help you avoid the chances of getting cheated and help in buying a home which gives you full value for your investment.