Should we get a real estate attorney?

lmrinc_gwMay 3, 2013

We want to put our house up fsbo. We've put it on zillow make me move and got so many emails we took it down because we aren't ready.

We have a lot of equity in the house and want to hold onto as much as possible. OUr realtor we used to buy our new house said she would do the paper work for a small fee ( I think she said this because selling our house would be like peeing in the ocean for her). Would this be a good route or should we hire a real estate attorney for all the paper work?

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lyfia

I think it depends what state you are in and how good the forms generally are from a legal stand point.

    Bookmark   May 3, 2013 at 6:08PM
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weedyacres

We sold a house FSBO and just used an attorney. It was easy peasy and only cost a few hundred dollars.

    Bookmark   May 3, 2013 at 7:15PM
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brickeyee

Stock forms are just that,'stock'.

Unless you have sold multiple houses and now exactly what every line in the stock form means, and what to add to the form, get an attorney.

It is all to easy to make very expensive mistakes (and even attorneys do it once in a while and get sued).

    Bookmark   May 4, 2013 at 11:07AM
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stir_fryi

My parents did this recently on a vacation home. It was helpful that they had a cash buyer that pretty much knocked on their door and agreed to pay all closing costs.

The title company handled all the paperwork. It went very smoothly.

    Bookmark   May 9, 2013 at 8:28AM
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brickeyee

"The title company handled all the paperwork."

Different states use title companies in different ways.

In NH title companies handle settlements.
You can bring your attorney if you want to.

In VA settlements are conducted by attorneys.
You can still bring YOUR tourney to represent you, but they are only an observer and are not running the closing.

    Bookmark   May 9, 2013 at 11:19AM
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StellaMarie

I would absolutely get a RE attorney for a FSBO.

I used one for my last purchase and she modified the form in at least one way that was very helpful for me in negotiations. And she wasn't very expensive (though she asked for extra because the sellers were very difficult -- I quickly obliged).

    Bookmark   May 14, 2013 at 1:21PM
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terriks

Title/Escrow companies are neutral 3rd parties, and will not give you legal advice or advocate for either side. It shouldn't cost much to get a RE attorney to draw up or review a contract.

    Bookmark   May 14, 2013 at 3:40PM
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Markwahlberg

In my opinion it is according to the situation in which you are dealing with. If you have full faith in your realtor whom you are buying a new house and she is offering less fees then you can appoint her otherwise I think you should get a real estate attorney for fsbo.

    Bookmark   May 15, 2013 at 4:14AM
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