This entry was posted on Saturday, July 7th, 2007 at 10:53 am and is filed under Laws, Contracts + Records, FSBO. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.
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July 7, 2007
Referencing yesterday’s ‘how-to-avoid’ getting sued guide, I mentioned that everyone should at least know of an attorney to use in case they ever need one, and chances are, you will. Well knowing one can be done by finding one who can assist you in your first For-Sale-By-Owner transaction.
Most attorneys should be happy to answer basic questions over the phone, as well as look at your closing documents for under $300. They’ll give those documents far more scrutiny than any agent will, given that they do not have their fees contingent upon the sale actually closing. This can be invaluable if something is found, as it can potentially save tens of thousands of dollars. Don’t bother putting much trust in the title company, as they plan on blaming your agent if anything comes up, or worse yet, suing you.
While homes can certainly be bought and sold without an attorney, it’s often silly to lose the protection offered by having an attorney on such a huge transaction.
read comments (1)
July 10th, 2007 at 6:08 pm
This is some good insight. My first thought was why waste 300 bucks. But, if you’re going to save thousands by not having an agent - why not? I think having a lawyer involved in standard practice in some places. But, where I’ve lived in California and Utah most middle-of-the-line home sales don’t involve lawyers.