Buying Real Estate as a Buyer: Rights, Obligations, and Common Misunderstandings

In real estate transactions, attention often centers on the seller and the agent they hire. Yet buyers also have not only rights but obligations. Knowing both helps avoid misunderstandings and disputes.

Buyer’s Rights

Access to full information – You are entitled to know the property’s legal status, encumbrances, utilities, and community details.

Contractual transparency – All agency agreements, commission structures, and related documents must be provided in writing in advance.

Secure payment handling – Deposits or down payments should only be made through attorney escrow or bank transfer.

Buyer’s Obligations

Providing accurate information – Be honest about your financial situation and borrowing capacity.

Respecting viewings – Attend scheduled visits or cancel in good time.

Settling additional fees – Services such as surveys, video tours, or translations must be paid for, even if you don’t proceed with the purchase.

Common Misunderstandings

“The agent only represents the seller.” – While usually hired by the seller, agents must also disclose key facts to the buyer.

“The commission is always paid by the seller.” – Not always; buyers may be charged for special services.

“The agent’s word is enough.” – It isn’t; only a lawyer can provide full legal due diligence.

“The deposit is always refundable.” – Wrong: if you withdraw, you lose it; if the seller withdraws, they must return double.

Conclusion

As a buyer, being aware of your rights and obligations is key to a safe purchase. A reliable agent is a valuable partner, but cannot replace your own due diligence and legal counsel.