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Selling a house without broker

Old 05-16-2011, 09:46 AM
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Spending couple hunderd or so to get a real qualified lawyer is money well spent. Many states have wacky disclosure rules and if you miss one it can bite you in the a$$ down the road.

Those who advsie against an attorney are penny wise and pound foolish as my father would say. Especially if they are not aware of all local laws on property sales.
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Old 05-16-2011, 09:48 AM
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Originally Posted by SHAMROCK69 View Post
Spending couple hunderd or so to get a real qualified lawyer is money well spent. Many states have wacky disclosure rules and if you miss one it can bite you in the a$$ down the road.

Those who advsie against an attorney are penny wise and pound foolish as my father would say. Especially if they are not aware of all local laws on property sales.
True--also, as the op is the seller--any mistakes made by a lawyer will ultimately be on the lawyer. As a buyer--get title insurance.
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Old 05-16-2011, 11:50 AM
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I always have wondered how many title claims are ever filed can't be many as the title company has recourse to the attorney. Capt. can't remember the name of the last closing attorney on HHI I was just glad to close. With the Beaufort taxes, HO premiums, HOA fees and the damn traffic it ain't the same.
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Old 05-16-2011, 11:54 AM
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Originally Posted by SHAMROCK69 View Post
Those who advsie against an attorney are penny wise and pound foolish as my father would say. Especially if they are not aware of all local laws on property sales.
OK, this 200 pounds of foolish wants to know why you'd want to use an attorney when the Title company (whose owner is a RE attorney) would give you a heads up on anything prior to closing. After closing, the OP's Mom has the money.

So, what would you expect to learn from another RE attorney when you're the seller involved in an amicable transaction?
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Old 05-16-2011, 11:59 AM
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Originally Posted by hhi angler View Post
I always have wondered how many title claims are ever filed can't be many as the title company has recourse to the attorney. Capt. can't remember the name of the last closing attorney on HHI I was just glad to close. With the Beaufort taxes, HO premiums, HOA fees and the damn traffic it ain't the same.
I know of quite a few claims. The property owner gets made whole while the lawyer takes a ding. Often, the lawyers E & O insurance pays the title insurance. But, the title insurance generally pays the property owner quickly on a legit claim. You see this issue most often with boundary line encroachments where the surveys were not accurate.

I went to HHI last weekend for M Day. It was crowded and expensive. But, the blue green water in the broad sure looked pretty.
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Old 05-16-2011, 12:05 PM
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Originally Posted by bamaboy473 View Post
OK, this 200 pounds of foolish wants to know why you'd want to use an attorney when the Title company (whose owner is a RE attorney) would give you a heads up on anything prior to closing. After closing, the OP's Mom has the money.

So, what would you expect to learn from another RE attorney when you're the seller involved in an amicable transaction?
So in your scenario, you left out the part about who draws up the contract?
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Old 05-16-2011, 12:06 PM
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The title of this thread is making a deal with out a real estate agent. The use of attorney can be directed by law such as were I live. Mortgage companys will require them. The title companys have an attorney as there agent. Many reasons and amicable is not one of them. Title checks are very important as to liens or cloudy titles etc.
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Old 05-16-2011, 12:12 PM
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No doubt the E & O carrier will take the hit but the title company gets made whole. Surveys have always been a problem especially were there is a developer trying to get one more lot. Mike Mungo was famous for that.
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Old 05-16-2011, 12:15 PM
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Originally Posted by bamaboy473 View Post
OK, this 200 pounds of foolish wants to know why you'd want to use an attorney when the Title company (whose owner is a RE attorney) would give you a heads up on anything prior to closing. After closing, the OP's Mom has the money.

So, what would you expect to learn from another RE attorney when you're the seller involved in an amicable transaction?

Because the title company is working to get the deal done not protect me. He does not give a hoot that the buyer can come after me 5 years from now for some stupid disclosure form I did not fill out.

I understand peopls's frustration with attorney's here JAX they advertise on the radio you are missing out on money due you if you don't call them after an accident. WTF

However if you have ever had been in a situation where you are legally correct but getting walked all over, and have had the right attorney you will know what I mean.
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Old 05-16-2011, 12:16 PM
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Originally Posted by bamaboy473 View Post
OK, this 200 pounds of foolish wants to know why you'd want to use an attorney when the Title company (whose owner is a RE attorney) would give you a heads up on anything prior to closing. After closing, the OP's Mom has the money.

So, what would you expect to learn from another RE attorney when you're the seller involved in an amicable transaction?
I personally busted up a fraudelent seller because I was representing a buyer at a closing. Don't expect a Title Co. Lawyer that does not personally represent you to go that extra mile. They don't rep you and wont be looking real hard. Somebody eventually went to prison. It is a long story, but w/o a lawyer the buyer was screwed.

Never expect a real estate broker to truly understand the law--even if they do they cannot give legal advice. You only need a broker if they listed the property or they brought the buyer.
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Old 05-16-2011, 12:40 PM
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Originally Posted by bamaboy473 View Post
OK, this 200 pounds of foolish wants to know why you'd want to use an attorney when the Title company (whose owner is a RE attorney) would give you a heads up on anything prior to closing. After closing, the OP's Mom has the money.

So, what would you expect to learn from another RE attorney when you're the seller involved in an amicable transaction?
To protect me. Once you have had a good attorney you will know the difference.
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Old 05-16-2011, 12:45 PM
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This is very educational since it appears that I'm the only person that would sell my property and not hire a RE attorney to...to do what?

He looks at the contract and may or may not ask some questions.

He isn't going to do the Title search, He isn't going to pro-rate taxes, he isn't going to make sure the financing is in order, he isn't going to file the paperwork. Why? ...because the Title company does all that.

Those who choose to spend their money on a RE attorney have my full support since lawyers need to eat, too.

I am still interested in what specific function a RE attorney would perform in this case???
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Old 05-16-2011, 12:48 PM
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Originally Posted by bamaboy473 View Post
This is very educational since it appears that I'm the only person that would sell my property and not hire a RE attorney to...to do what?

He looks at the contract and may or may not ask some questions.

He isn't going to do the Title search, He isn't going to pro-rate taxes, he isn't going to make sure the financing is in order, he isn't going to file the paperwork. Why? ...because the Title company does all that.

Those who choose to spend their money on a RE attorney have my full support since lawyers need to eat, too.

I am still interested in what specific function a RE attorney would perform in this case???
How many times does it have to be written? Draft the contract.
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Old 05-16-2011, 12:53 PM
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Originally Posted by RI Builder View Post
So in your scenario, you left out the part about who draws up the contract?
There are a lot of sources for standard RE contracts, both at book stores and on-line. The seller could draft one and ask the buyer for his input and/or agreement. This is a simple cash sale with no contingencies. I see nothing that warrants an attorney's oversight.

When I write up my contracts (that's right, I'm all kinds of foolish ) it's common to ask the other party to join the process in order that we both agree on what's being said...and so we don't need to pay attorneys to do the same thing as we can do.

Even a lease/purchase document led to a successful closing. The only attorney involved was the Title attorney's office.
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Old 05-16-2011, 12:58 PM
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A good attorney is going to do as much or as little as you contract him to do. He is billing by the hour and if you draw up a contract he will look for pit falls and confirm it is valid in the state you are in. He may also suggest other steps that are to be done to protect you and you only. On a simple cash sale contract his time should be minimal thus the cost benefit ratio high.
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Old 05-16-2011, 01:05 PM
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Old 05-16-2011, 01:32 PM
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Ya. The lawyer fee is always a waste until you really needed one. With most real estate transactions ...you don't need one until after the sh*t hits the fan. Spend your mothers money. I paid cash for a property last year with the terms "as is" and the $500 attorney closing fee I paid my attorney was money well spent and provided me piece of mind. When there were issues; the burdon was on him.
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Old 05-16-2011, 01:55 PM
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Originally Posted by bamaboy473 View Post
There are a lot of sources for standard RE contracts, both at book stores and on-line. The seller could draft one and ask the buyer for his input and/or agreement. This is a simple cash sale with no contingencies. I see nothing that warrants an attorney's oversight.

When I write up my contracts (that's right, I'm all kinds of foolish ) it's common to ask the other party to join the process in order that we both agree on what's being said...and so we don't need to pay attorneys to do the same thing as we can do.

Even a lease/purchase document led to a successful closing. The only attorney involved was the Title attorney's office.
I remember when you had real estate sale fail. Simple contracts can have loopholes and not properly cover risk. A good lawyer is worth every penny they charge. (I am not a lawyer but do hire them)
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Old 05-16-2011, 02:14 PM
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Originally Posted by Pierless View Post
I remember when you had real estate sale fail. Simple contracts can have loopholes and not properly cover risk. A good lawyer is worth every penny they charge. (I am not a lawyer but do hire them)
Excellent memory! I've had two fail.
The latest was our house sale wherein the buyers couldn't get their home to appraise for enough. No attorney could have helped us or them with that.

The other one was an Apartment building sale. The facts are that a lady decided (with her RE agent's knowledge) to re-negotiate the contract after signing contract and deposit paid. I refused, and the lady didn't buy the apartment building.

No attorney could have provided any advice besides:
a. sure, reduce your price because she wants you to....and pay me $300 for my time.
or,
b. nope, tell her to pack sand and make her sue you for her deposit return

Actually, a smart attorney wouldn't actually give that advice, but they'd back you in court whatever path you chose.

Neither case could have benefited from an attorney's experience and expertise.
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Old 05-16-2011, 02:17 PM
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Yep, sold my house without a broker or attorney back in 2004 in Florida...EZPZ. I went to Office Depot and bought a package they have there for selling your home. This package had all customizable contracts and forms that you would ever need. Completed the contract and took deposit down to the Title Agency and waited on my phone call for the closing. They called, met buyer at Title Agency, did the closing thing, and had my check in 45 minutes.
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