Does every buyer or seller need an agent? Does every distressed homeowner need an attorney?
In the comment thread to a recent post, Ardell wrote:
You can’t just tell people they should or should not have an attorney the same way that you can’t tell them they should or should not have a real estate agent LOL! Either can be a waste of money if you have the wrong [...]
Posted: November 7th, 2008 under General Real Estate.
Tags: agents, homeowners in default, lawyers, legal services
Comments: 23
When your financing evaporates, do you lose your earnest money?
This is not legal advice. For legal advice, consult an attorney, not a blog.
In this challenging market, many buyers are discovering that their loan program is no longer available. This is a particular problem with new construction, whether condo or house. The buyer signed a purchase and sale agreement (PSA) several months [...]
Posted: October 10th, 2008 under Buyer Information, Legal Issues, new-construction.
Tags: attorney, earnest-money, financing, financing contingency
Comments: 11
Has the Distressed Conveyances law curtailed foreclosure rescue scams?
In this Sunday’s Seattle Times there was an article on “foreclosure rescue scams.” I found the timing interesting given the recent enactment of the Distressed Conveyances law effective in June of this year. This law was specifically enacted to curtail these practices and even provides a rather large “stick” to use in convincing people [...]
Posted: September 22nd, 2008 under General Real Estate, Legal Issues, Real Estate Law, Seller Information, foreclosure.
Tags: attorney, foreclosure-rescue-scam
Comments: 17
Buying without an Agent — the Epilogue
This is not legal advice. For legal advice, contact an attorney.
Over the last year, I’ve posted several times on using an attorney – rather than a real estate agent — to purchase a home. As discussed in those posts, one of the biggest challenges in doing so is getting access to the properties that [...]
Posted: August 29th, 2008 under Buyer Information, General Real Estate, Purchase Information, Real Estate Law.
Tags: buyers, buyers without agent
Comments: 73
When to sue for an undisclosed defect
This post is not legal advice. For legal advice, consult an attorney, not a blog.
You just bought a house! Congratulations! You just discovered that foundation is cracked, although the seller said the foundation was fine… My condolences…
The next logical question: can you get some recovery from the seller [...]
Posted: August 1st, 2008 under Buyer Information, Legal Issues, Real Estate Law.
Tags: attorneys, concealment, fraud, lawsuit, legal fees
Comments: 18
Form 17 — an addendum to the contract?
As always, this is not legal advice. If you want legal advice, consult an attorney, not a blog.
Is the Form 17 part of the purchase and sale agreement (PSA)? Should it be listed in the “Addendum” paragraph of the PSA? In a word: NO! (At least if you’re the seller — if [...]
Posted: July 3rd, 2008 under Agent Advice, Buyer Information, Legal Issues, Real Estate Law, Seller Information.
Tags: attorney's fees, breach of contract, Form 17, Real Estate Law, Seller Disclosure Statement
Comments: 71
Not showing a less-than-3% SOC commission? That’s unethical and illegal
This is not legal advice. For legal advice, consult an attorney directly, not a blog.
It’s common knowledge (based on those comments, at least) that some buyer’s agents will not show properties with an SOC of less than 3%. Is that a problem? In a word, Yes.
First, the ethics: The term “ethics” in this context refers [...]
Posted: June 11th, 2008 under Buyer Information, General Real Estate, Legal Issues, Real Estate Law, Seller Information.
Tags: 3%, buyers-agent, SOC
Comments: 72
The Commission-Based Fee Structure: it’s Bad for Buyers
This post is not legal advice. For legal advice, consult an attorney in person, not a blog.
[Sorry, no links or cites here, but I think the following historical perspective is undisputed:] Originally, real estate agents (and brokers, referred to collectively in this post as “agents”) represented only the seller. The “listing” agent [...]
Posted: April 22nd, 2008 under Buyer Information, General Real Estate, Legal Issues, Real Estate Law, Seller Information.
Tags: attorneys, buyers-agents, commissions, selling-agents
Comments: 291
Buying without an Agent: How to get that 3%
This post is not legal advice. For legal advice, consult an attorney in person and do not rely on a blog.
Earlier this week, I authored a post giving some historical context and practical tips for buying a house without using an agent. The Big Question, of course, is this: Will that save me [...]
Posted: April 3rd, 2008 under Buyer Information, General Real Estate, Legal Issues, Real Estate Law.
Tags: attorneys, buyers-agent
Comments: 57
Using an agent to buy a house? That is soooo 20th century…
This post is not legal advice. For legal advice, consult an attorney directly (i.e. not via a blog).
This is Part I of a multi-part post.
Part I: Visiting the Property
Several months ago, I authored a post about buying a house without utilizing the services of an agent. It generated quite the conversation (concluding with [...]
Posted: March 31st, 2008 under Buyer Information, General Real Estate, Legal Issues, Real Estate Law.
Tags: attorneys, buyers-agent, commissions
Comments: 80
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