It has certainly happened to you in your search for real estate to read the mention "sale without legal warranty". Are you still confused when you read this statement today? Here are a few things to consider when you see this inscription.
- The legal guarantee includes both the quality guarantee and the legal warranty of ownership. It exists for the sole purpose of law, and any person who sells real property is required to insure his or her security. Unless it decides to exclude it and the seller assumes its exclusion and accepts it.
The quality guarantee mainly concerns hidden defects.
The legal warranty of ownership concerns defects of title. For example, this could involve a default on the mortgage related to the property prior to the sale.
In general, a sale without a legal warranty is made on goods that we may have received as inheritance or otherwise and in which we would not have lived and in which we have very little information.
This usually leads to lower prices.
How to take advantage of this type of sale?
- As a first step, be accompanied by a broker who will know how to guide you;
- Do a maximum check ( inspection, check that the mortgage has been paid in full, etc.);
- Read the Declarations by the Seller carefully;
- Negotiate to the maximum to obtain the asset below its value.
Also, know if the seller knew of a hidden defect but did not disclose it during the sale, even without legal guarantee, the latter runs the risk of being sued.
Be very careful and cautious about this type of real estate sale.