what to ask real estate attorney for selling your home

Some questions to ask:

• Do you charge by the hour or a flat fee? You’ll want to find out how lawyers usually charge for services in your area, and what the price range is. ...
• How available will you be during the process? ...
• How many residential real estate transactions do you advise on per year? ...
• How are you usually involved in real estate transactions? ...

Full Answer

Do you really need a realtor when selling your home?

Real estate attorneys help oversee home sales, from the moment the contract is signed through the negotiating period (aptly called the “attorney review”) to closing. A seller’s attorney reviews sales contracts, communicates terms in a professional manner and attends closings to prevent mishaps. Selling a home is a complex process that ...

Why you should have a realtor when selling a home?

You will want to conduct a phone interview and ask as many questions as possible. Describe your particular situation and ask if they have ever worked on a case like yours before. Other questions to ask include: Are they primarily a real estate lawyer? If not, how much of their business is geared toward property law?

When should I contact a realtor about selling my home?

It’s best to be upfront and ask about his or her fees in the beginning. It’s also useful to inquire about any hidden or unexpected fees that may present themselves. For example, if an unexpected bump in the road were to present itself, does this mean that your fees are increasing? Are you looking to find out how much a closing attorney costs?

What to ask a real estate agent when selling?

Aug 17, 2021 · You need a real estate lawyer if you’re selling in a state where it’s required by law. Each state that requires sellers to lawyer up does so for different reasons, but the ultimate aim for all is to protect the integrity of home sales in that state. The states that require you to use a real estate lawyer are: Alabama.

What do most realtors charge to sell your house?

What should you not say when selling a house?

Can you negotiate on a house sold as is?

What makes a house harder to sell?

How do I get the most out of my home sale?

Can you sell a house with everything in it?

What is simple sale?

What does a home inspector look for?

Can a real estate attorney be a title agent?

In some states, real estate attorneys can also double as title agents. They may also have one on their staff. This is helpful because it means the attorney’s office controls the closing process. There is no need to coordinate with any other office, and this can simplify and speed the closing process.

Do you have to pay more for experience in real estate?

More complicated real estate matters suggest having a more experienced legal presence. You may have to pay more for experience, but the value of your investment in such cases probably warrants the higher expense. The potential financial loss in larger real estate deals also warrants having more experience on your side. 3.

Is real estate a unique deal?

Every real estate deal is unique with its own set of circumstances and potential problems. Your case is no different. It is wise to find an attorney who is familiar with those types of problems and who knows how to prevent them from happening.

Why is it important to have an attorney on staff?

They may also have one on their staff. This is helpful because it means the attorney’s office controls the closing process. There is no need to coordinate with any other office, and this can simplify and speed the closing process. It might also lessen the expenses based on communications.

What does it mean when a real estate agent represents the buyer?

If your real estate agent also represents the buyer, this means they make twice as much. Unfortunately, many real estate agents are willing to risk their integrity to make this happen. In many cases, the end result means a lower selling price by tens of thousands of dollars.

Can a realtor negotiate for you?

When they also represent the buyer, they cannot negotiate for you. You can see this in the agreement you’ll sign with them.

What are the selling features of a home in need of work?

For example, the two selling features for a home in need of work could be the following: Lower price, which means lower monthly payments and lower property taxes.

What does it mean when a realtor has a higher than average number of days to sell?

A higher-than-average number of days to sell means that the realtor overprices their listings. And a lower-than-average number almost always means they underprice the homes they sell.

What is the common mistake that many sellers make?

A common mistake that many sellers make is spending too much time and money on things that don’t matter. The goal is to spend the least amount and only on things that will bring a return on your investment. And that’s exactly what the answer should be about when you ask your real estate agent this question.

What are the scenarios where you may wish to employ a real estate lawyer?

If you are selling property, the below are all scenarios where you may wish to employ a real estate lawyer: Selling a property you inherited. Selling a property during a divorce or separation. Selling a property with a lien. Short-selling a home. Selling a home with multiple owners.

What is a real estate attorney?

Real estate attorneys are lawyers who specialize in real estate legal issues. When it comes to buying or selling property, they know better than anyone the ins and outs of property legalese. They work for the home buyer or home seller (in residential cases) and represent their best interests, for a fee. They also handle commercial real estate cases ...

How to sell a house with a lien?

If you are selling property, the below are all scenarios where you may wish to employ a real estate lawyer: 1 Selling a property you inherited 2 Selling a property during a divorce or separation 3 Selling a property with a lien 4 Short-selling a home 5 Selling a home with multiple owners 6 Selling a home with known problems (structural problems, mold and so forth)

What is short selling a home?

Selling a property with a lien. Short-selling a home. Selling a home with multiple owners. Selling a home with known problems (structural problems, mold and so forth) Whether you are buying or selling a home, if you feel uncomfortable with the process, always seek legal advice.

Why do you need legal counsel?

For buyers, the following are all great reasons to seek legal counsel: Purchasing a bank-owned property or foreclosure. Purchasing a home with known home improvement issues. Purchasing a property in a flood zone or disaster prone area.

What is a good agent for selling a house?

A good agent should have a written plan for selling your home that identifies the marketing plan for your property to attract buyers, from listing services to open houses to social media. This helps ensure you’ll get a high sales price.

Does a real estate agent guarantee a quick sale?

A real estate agent’s past performance doesn’t guarantee a quick sale. Their track record of success with buyers and sellers, though, is some assurance that they are professionals who will know what they’re doing in selling your home.

What does a real estate agent do?

A great real estate agent can help find buyers to sell your home fast, and for more money. Make the wrong choice, and your listing might languish. Then, the lowballing bargain hunters come circling—it’s not pretty.

What do local agents know about real estate?

Local agents will be aware of any upcoming developments in the area, plus plans for stores or other amenities that might affect the value of your property, how quickly it will sell, and the price you’re likely to get. They’ll also know what local buyers are looking for in real estate.

Do you want to know who is working on your case?

When it comes to your specific case, you’ll want to know exactly who is working on your case. It’s important to consider that many successful attorneys will accept your case only to pass it along to a less-experienced attorney.

Is it rewarding to buy a home?

While purchasing a home has proven to have its challenges, it’s also incredibly rewarding. In fact, becoming a homeowner may be one of the best financial decisions that you’ll make in your lifetime. Unlike a car, a home investment is one that will appreciate over time and allow you to gain equity in your home.

What is a home investment?

Unlike a car, a home investment is one that will appreciate over time and allow you to gain equity in your home. While your real estate professional will guide you through the buying process, it’s your real estate closing attorney that will guide you through the closing. This is when the home officially transfers ownership ...

Why is a real estate attorney important?

A good real estate attorney provides a backstop for your real estate agent, finding loopholes in the purchase agreement, saving you money with contingencies, and maybe even insulating you from lawsuits years down the line. Let’s go over some of the situations where hiring a real estate attorney is a good move, the responsibilities ...

Is it legal to give tax advice to a real estate agent?

But if you have any questions involving real estate law or taxes, a lawyer is your best source for this advice; in fact, in most states, it’s illegal for a real estate agent to give tax or legal advice. And even if you live in a state where it’s legal for an agent to give legal advice, keep in mind that while agents are probably somewhat familiar ...

How much do real estate attorneys make an hour?

Real estate attorneys are paid by the hour — market rates are between $150 and $350. You may be able to negotiate a flat rate, or a cap on the number of hours they work on your behalf.

What does a good agent do?

A great agent doesn’t just help you buy or sell a property; they also offer a sympathetic ear, gentle advice, and all around emotional support. A huge financial transaction can be a huge source of stress, and a good agent knows how to reassure their clients.

Why do agents work on commission?

Works On Commission. Because most agents work on commission, they make more money the higher the final sale price goes. That’s great if your priority is extracting every possible dollar from your sale. But sometimes sellers just want a quick sale, or want their property to pass onto someone who appreciates it.

Why do agents make more money?

Because most agents work on commission, they make more money the higher the final sale price goes. That’s great if your priority is extracting every possible dollar from your sale. But sometimes sellers just want a quick sale, or want their property to pass onto someone who appreciates it.

Can agents price below market value?

On the other hand, agents can price your below market value when they want to earn their commission faster. Always ask for market comps in your area, and understand your neighborhoods average days on market so you don’t get taken for a ride.

What questions should a listing agent ask?

Here are a few key marketing questions any qualified listing agent should be able to address: 1 Will you have professional pictures taken? The quality of listing photographs can make a huge difference in the amount of interest your home receives from potential buyers. 2 Will you offer staging advice? Staging a home can make it easier for buyers to visualize a property as their future home. A real estate agent should have experience staging other properties and be able to provide guidance. 3 Will my home be included in the local paper? If so, be sure to ask if this is included in their fee of if you’ll have to pay extra out of pocket. 4 Can you share examples of marketing materials used for previous sales? This will help you get a sense of the quality level of the agent’s marketing.

Do home sellers need an agent?

Home sellers are also often home buyers and will need an agent for both transactions. It’s likely that if you ask this question the answer will be an unequivocal, “yes.” After all, why would an agent turn down more business?

What happens when a home is listed on the MLS?

By and large, when your home is listed on the MLS it will automatically appear on most of the well-known real estate search sites.

Can a listing agent send you a client who didn't have a good experience?

It’s unlikely that a listing agent will send you to a client who didn’t have a good experience, which is where a little internet sleuthing can come in handy. When reading through online reviews, however, always keep the source in mind.

What does it mean to work with the same agent to sell and buy?

Working with the same agent to help you sell and buy means one person who knows your schedule and can best manage any timing issues that may arise between closing on the sale of your home and purchase of the next. Financial benefits.

What does it mean to use the same agent for a home?

Unless you’re buying within a close a radius of your current home, using the same agent may mean making a compromise in local market knowledge. A lack of transaction specialty. Many of the questions you’ve asked thus far have had to do with the specific challenges faced as a seller.

What is the job of a real estate agent?

A real estate agent’s chief task is to be your representative when dealing with other parties in the transaction. This simply is not possible if they don’t know your needs, priorities, and expectations. So while these are all important questions to ask when choosing a real estate agent, the most important questions of all will be ...