There is No Home Buyer Lemon Law

By
Real Estate Broker with CJ Realty Group, Inc.

lemonsIn Virginia there is a Lemon Law on the books to protect consumers who purchase a car which is later found to have serious defects.  However, there is no such law when it comes to protecting buyers when they are purchasing a home.  When the market was hot in Northern Virginia many buyers had to pass up the opportunity to have a thorough home inspection in order to "win" their first choice home. 

For some of those buyers the movie the Money Pit went from being an amusing comedy to a real life nightmare. 

Recently I wrote a contract on a "bargain" home and at first blush the house looked to be outdated but in decent shape.  Fortunately the buyers had taken my professional advice and included a home inspection contingency in their contract.  They hired a licensed experienced home inspector to give the house a complete inspection from top to bottom.  Everything started out fine.  However as the inspector made his way through the house he found serious structural issues and significant termite damage.  Since we had the home inspection contingency in the contract the buyers were able to walk away from the house and though they were disappointed they were also very thankful that they wouldn't be stuck with this lemon of a house.

Va Home Inspection Contingency

This is just one example of why buyers need to make sure they have their own representation when they are ready to purchase a home.  A buyer's agent is going to make sure all of the options available to protect you in your home purchase are in place.  So remember there is no Home Buyer Lemon Law.  If you don't have your own representation you could find yourself trying to figure out how to make lemonade from a very sour lemon!

Additional Information for Northern Virginia Buyers:

The Ah-Ha Moment
The Value of Talking to the Neighbors
To Inspect or Not-That is the Question

 

©Copyright 2007. All rights reserved. Northern Virginia Real Estate , Cindy Jones, Associate Broker, RE/MAX Allegiance
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                                   Real People*Real Lives*Real Estate

If you are interested in learning more about the Northern Virginia Real Estate market including Alexandria, Arlington, Fairfax and Prince William Counties give Cindy Jones and CJ Realty Group,  a call at 703-346-2213. 

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Check out www.varealestatetalk.com and www.cjrealtygroup.com for more information.
CJ Realty Group Woodbridge VA 
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Topic:
Home Buying
Location:
Virginia Fairfax County
Tags:
northern va real estate
fairfax county
prince william county
cindy jones

Comments 10 New Comment

Ambassador
1,771,509
Cindy Jones
Pentagon, Fort Belvoir & Quantico Real Estate News
CJ Realty Group, Inc.
Patricia-yes I think next year we will see the Disclaimer disappear in VA.  It is going to put sellers to the test and yes there will always be someone who will "lie" about defects. 
November 19, 2007 09:19 AM
Rainmaker
151,641
Stella Barbour
Principal Broker, Serving Virginia and Maryland
NoVa Brokers LLC
Cindy - Good post.  I always try my best to get people to get a home inspection.  It is such a small price for a huge investment.
November 19, 2007 08:33 AM
Ambassador
1,771,509
Cindy Jones
Pentagon, Fort Belvoir & Quantico Real Estate News
CJ Realty Group, Inc.
Stella-in this market a home inspection contingency should be a no brainer.  The only homes you can't make it happen is a "true" foreclosure. 
November 19, 2007 09:20 AM
Rainer
28,843
Martinelli Caputi
& Associates, Ltd.
Martinelli Caputi & Associates, Ltd.
Cindy - I'm with you - A buyer needs to be able to walk away from a house that is on the brink of collapsing.  Great post!  :) 
November 19, 2007 02:24 PM
Ambassador
1,771,509
Cindy Jones
Pentagon, Fort Belvoir & Quantico Real Estate News
CJ Realty Group, Inc.
Richard-this one had more problems than the acutally "AS IS" tear down that I sold two years ago.  Having the ability to protect buyers is important and if you ask my daugher in the UK about buying a home in a country that doesn't have the protections we do you will get an earfull.
November 19, 2007 04:51 PM
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Cindy Jones

Pentagon, Fort Belvoir & Quantico Real Estate News
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