Should You Hire A Real Estate Lawyer Or Just An Agent When Buying A Home?


It's a common misconception that only real estate agents are available to the home buyer looking for help with the process. However, a real estate lawyer can also handle the same brokerage tasks as an agent while offering you so much more as a buyer. Regardless of the kind of home or condo you're buying, hiring a real estate agent offers these benefits to you as the buyer in the transaction.

No Conflict of Interest

First, you should understand that real estate lawyers work under stricter limitations on conflicts of interest than real estate agents. These limitations benefit you because it prevents the lawyer from representing both you and the buyer at the same time. Agents are welcome to do this in most states as long as they notify both sides of the double representation. If you want the most help possible with the buying process, a lawyer is better suited to providing what you need than an agent.

Full Legal Advice

Real estate agents are warned not to give their clients legal advice about the buying or selling process, such as executing lien searches or recommending title formats. In contrast, real estate lawyers are perfectly equipped to offer exactly this kind of advice. Even a simple and affordable single family home can be surprising complicated thanks to missing deeds, incorrect records, tax debts, and more.

Fixed Fees

Most real estate lawyers set specific fees for the entire purchasing process rather than charging a percentage as real estate agents do. Agents can charge anywhere from 3% to as much as 5% of the total cost of the home, which adds up significantly when you're buying a high end home. Since home prices are so high in many parts of the country, it's easy to spend thousands on real estate agent fees when they're calculated by the sale price. Working with a lawyer may save you significant amounts of money that you can put towards moving in.

Advanced Services

Finally, real estate lawyers also provide a wider variety of important services needed specifically by the buyer. Each office sets their own services, but you'll usually find notary and witnessing services, closing arrangements, assistance with the escrow process, negotiation support with mortgage lenders, help with filing for Housing and Urban Development programs, and title searches. You can get everything done to complete the purchase process from a single company rather than hiring and paying half a dozen different professionals just to find your perfect home.

Contact a firm, like Stoddard Law Firm, for more help.


14 February 2018

Understanding General Attorney Services

Hi there, my name is John Michaels. Welcome to my website about general attorney services. When I was wrapped up in a neighborhood dispute, I decided to consult with a general attorney to receive guidance and support. The attorney helped me understand how to best proceed with the dispute to achieve a mutually-acceptable resolution. Through this experience, I was inspired to share information about the services provided by general attorneys. I invite you to visit my site daily to learn about these important service offerings and their role in your dispute resolution activities. Thank you for coming to visit my site.