Real Estate Agent and Real Estate Lawyer?

[txdogmom]

What is the name of your state? Texas

I am considering selling my home and buying another. After reading all the mistakes and mishaps of others on this site, I am wondering if I need to get both a real estate agent and a real estate lawyer. Getting the agent seems like a no brainer since what I know about real estate I can write on the back of my business card.

My questions is: Should a real estate agent be able to handle the both the sale of one home and the purchase of another or do I need to engage the services of a real estate lawyer too?

I did not have a real estate attorney when I bought my home (it was my first) but I wonder if I should have. Or, am I being concerned over nothing? In most cases, should a good real estate agent be able to handle the transactions?

Thanks for your insight.

 

[HomeGuru]

What is the name of your state? Texas

I am considering selling my home and buying another. After reading all the mistakes and mishaps of others on this site, I am wondering if I need to get both a real estate agent and a real estate lawyer. Getting the agent seems like a no brainer since what I know about real estate I can write on the back of my business card.

My questions is: Should a real estate agent be able to handle the both the sale of one home and the purchase of another or do I need to engage the services of a real estate lawyer too?

I did not have a real estate attorney when I bought my home (it was my first) but I wonder if I should have. Or, am I being concerned over nothing? In most cases, should a good real estate agent be able to handle the transactions?

Thanks for your insight.

**A: this is also a no brainer. A Realtor can help you with numerous aspects of real estate but can not provide legal advice ie. reviewing your contracts, advising of contingencies, reviewing other documents such as survey, title report, etc.

 

[K. Mastrangelo]

Re: Re: Real Estate Agent and Real Estate Lawyer?

**A: this is also a no brainer. A Realtor can help you with numerous aspects of real estate but can not provide legal advice ie. reviewing your contracts, advising of contingencies, reviewing other documents such as survey, title report, etc.

I would hire a real estate attorney and make sure he reviews your Covenants of Conditions and Restrictions and the recorded plat for easments and such on the new home. Find out about "first right of refusal" contracts in case someone with a home to sell or a mortgage to approve wants to put a contingency contract on your home. This was a nightmare for us when we sold our last home. The buyer didn't get approval until a few days before we were supposed to close. Leaving us wondering whether to pack or not! Not to mention the home we were building and supposed to close on. Unfortunately our realtor was a "no-brainer" and had us in two bad contracts that kept our house "off" the market. I think real estate agents just want your signature on a contract, they don't know or care (in most cases) whether it is good for you!

 

[HomeGuru]

Re: Re: Re: Real Estate Agent and Real Estate Lawyer?

I would hire a real estate attorney and make sure he reviews your Covenants of Conditions and Restrictions and the recorded plat for easments and such on the new home. Find out about "first right of refusal" contracts in case someone with a home to sell or a mortgage to approve wants to put a contingency contract on your home. This was a nightmare for us when we sold our last home. The buyer didn't get approval until a few days before we were supposed to close. Leaving us wondering whether to pack or not! Not to mention the home we were building and supposed to close on. Unfortunately our realtor was a "no-brainer" and had us in two bad contracts that kept our house "off" the market. I think real estate agents just want your signature on a contract, they don't know or care (in most cases) whether it is good for you!

**A: the majority of Realtors are good to excellent. Do to let a bad apple like yours give a bad name to all.