What rights do I have when buying a home?

When purchasing a home in the District of Columbia, you have several important rights as a buyer. According to the Real Property Article of the District of Columbia Code, as the buyer you have the right to know the condition of the property you are purchasing. You can require the seller to provide a disclosure statement about the property before the sale is final. This statement must include any known defects with the property such as a leaky roof, for instance. In addition, you have the right to a fair and accurate sale price and accurate information about any liens attached to the property. Once you have made an offer on the property, the seller has a duty to comply with your terms and conditions of the sale agreement. You also have certain rights when it comes to financing the home. The District requires that the seller provide you with truth-in-lending disclosures. This means that you have the right to know the annual percentage rate, the amount of closing costs, and any other fees associated with the purchase. Finally, you have the right to use the services of a real estate attorney if you need additional advice or assistance during the home buying process. A real estate attorney can provide advice on how to protect your investment and guide you through the paperwork and other legal aspects of the purchase.

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