Why Hiring a Real Estate Attorney Over an Agent Is Beneficial

If you want to save money on agent fees when selling your home, you might want to consider hiring a real estate attorney to assist you instead. While many people forgo the costs of paying a 5 to 6% agent fee with no problems finding interested buyers, in order to draft a legally binding contract and avoid any potential lawsuits you will need the advice and expertise of a skilled lawyer. Real Estate Economy 2019 While it may seem like simply trading one expense for another, an experienced real estate attorney can bang out a solid contract in just a couple of days for a flat rate. There’s no hidden surprises, unexpected fees, or having to deal with working on an agent’s schedule rather than your own. In fact, in some states only a lawyer has the power to draft contracts and close a deal.
Besides having to fork over a chunk of change from your home sale to an agent, there are many other reasons why it can be better not to use one. Some people aren’t in a hurry to sell and would rather put the feelers out to see if a decent enough offer comes their way. Agents, on the other hand, are eager to sell to get their commission. That means if they aren’t getting the interest they desire, they may start entertaining low-ball offers and even using pressure or scare tactics to get you to fold. They will also be hounding you to clear out so they can run an open house or show a prospective buyer around. If selling isn’t a priority in the immediate term, this can be a great disruption to your daily routine.
Another reason not to bother with an agent is when you’ve found a buyer already. Passing property to family members, friends, or other acquaintances does happen occasionally. In these instances, it is imperative to get the guidance and contract drafting skill of a real estate attorney. In order to protect yourself as well as maintain a solid relationship with the buyer whom you may know, you’ll need an unbiased outside party to carefully construct the wording. This will ensure there are no unpleasant misunderstandings or hard feelings due to ambiguous clauses or failure to disclose certain information.
Some homeowners will find themselves in unusual circumstances, such as when they are trying to sell property but are having difficulty removing a renting tenant. Or if a portion of the building is an illegal add-on. Navigating these situations is tricky and there is no reasonable way to get around having to hire a real estate attorney to help you. Agents are Types Of Real Estate Contracts not usually knowledgeable about these technical areas and may push a sale that is premature. A homeowner wants to sell their property with the confidence that once the papers are signed, the transaction is complete and they can walk away. If you know you’re in a sticky spot, don’t risk leaving the responsibility up to an agent with no practical legal skills.

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