when selling a home should attorney be in same county

A: HAVE to, no. You only HAVE to hire an attorney licensed in the proper state. HOWEVER, it is USUALLY a good idea to hire a local attorney because they both are more familiar with the courts in that location AND they don't have to travel long distances which can use up attorney's fees pretty quickly!

Full Answer

Do I need a lawyer to sell my house?

If you live in one of the states mentioned above, you’re required to use an attorney, whether you’re selling your home on your own or with an agent. If you’re selling on your own and don’t live in a state that requires hiring a lawyer, it’s up to you. Use your best judgement on whether your situation requires the help of a legal professional.

Can a real estate attorney represent the buyer or the seller?

Jun 01, 2020 · 1. State law requires you to use a lawyer. In some states, lawyers must be involved in certain aspects of a real estate transaction. In other states, lawyers are optional. 2. There is no real estate agent or broker involved. A “for sale by owner" deal can save you money on real estate commissions, but you still need someone to prepare the ...

Should I hire a lawyer for a Florida home sale?

Mar 07, 2022 · When a person is ready to buy or sell real property, a real estate attorney can represent the buyer or the seller but not both. Representing both is not allowed because it could lead to a conflict of interest.

How much does a real estate attorney charge to sell a house?

However, industry standard ordinarily dictates that if you are selling a home in Northern California, the buyer pays the transfer tax. If you are selling in Southern California, the seller normally pays. In California, the county transfer tax (as of late 2020) is $1.10 for every $1,000 of …

What should you not say when selling a house?

Sellers should never discuss things like price, why they are selling, problems with the home, other offers, or closing with buyers. Anything said to a buyer's agent should be considered said to the buyer and may be used during negotiations.

Do I need a lawyer to sell my house in BC?

A notary or lawyer is required for the sale of any property, so make sure that you have options lined up ahead of time.Mar 19, 2020

Do you need a lawyer to sell a house in Alberta?

If You're Getting a Mortgage or Have an Existing Mortgage, Then You Need a Lawyer to Buy or Sell a Home in Alberta. The legal requirements surrounding mortgages in Alberta demand a lawyer, but an attorney protects your interests and manages many important details in a real estate transaction.Jul 22, 2018

Who pays the property transfer tax in BC?

buyersWho pays the Transfer Tax. All buyers are required to pay PTT on the completion date when the seller receives the money and the title to the property is transferred to the buyer. This is a one time payment that allows the transaction to be registered.Apr 4, 2019

How much tax do you pay when you sell a house in BC?

General property transfer tax 1% of the fair market value up to and including $200,000. 2% of the fair market value greater than $200,000 and up to and including $2,000,000. 3% of the fair market value greater than $2,000,000.Nov 21, 2021

Do you need a Realtor to sell a house in Alberta?

A seller is not legally required to use a real estate agent to sell their home.

Do you have to pay tax when you sell your house in Canada?

When you sell your home or when you are considered to have sold it, usually you do not have to pay tax on any gain from the sale because of the principal residence exemption.Jan 18, 2022

How much do real estate lawyers make in Alberta?

The average pay for a Real Estate Attorney is $177,865 a year and $86 an hour in Calgary, Alberta, Canada. The average salary range for a Real Estate Attorney is between $122,681 and $221,840.

California Home Sellers Must Disclose, in Writing, All Facts That May Affect The Desirability of The Property

California law requires sellers to disclose to potential buyers, in writing, any details about the property that may affect the potential buyer’s d...

California Home Sellers Must Use A Title Company and May Need to Pay For The Buyer’S Title Insurance

When you sell your California home, a title company will conduct a title search and write a Preliminary Title Report, often called a “PTR.” The tit...

California Home Sellers Need to Use An Escrow Agent

Buyers and sellers of California homes customarily use escrow agents to facilitate the sale. The buyer will deposit funds in escrow, and the seller...

California Home Sellers May Need to Pay A Transfer Tax

When real estate is transferred from a seller to a buyer, a document must be recorded at the county recorder’s office to show that the property has...

What happens when you hire a lawyer?

When you hire a lawyer, your lawyer only works for you and will make sure your interests are protected. 4. There is a problem with the property or the deal. A lawyer can help you resolve some of the tougher, more technical issues that might come up.

Do I need a lawyer for a home sale?

If you have a good agent and things are running smoothly, you may not need a lawyer.

What to do if someone threatens to sue you?

You may also need legal advice if the property is involved in a foreclosure or other litigation, or if you get into a dispute with the buyer or seller. Always talk to a lawyer if someone threatens to sue you. 5. You are concerned about the tax consequences.

Do you need a lawyer for a real estate transaction?

1. State law requires you to use a lawyer. In some states, lawyers must be involved in certain aspects of a real estate transaction. In other states, lawyers are optional. 2. There is no real estate agent or broker involved. A “for sale by owner" deal can save you money on real estate commissions, but you still need someone to prepare ...

What can a lawyer do?

A lawyer can interpret and explain these rules, advise you on the feasibility of your plans, and help you structure the transaction and gain the approvals you will need to move forward. 7. Your instinct tells you to talk to a lawyer.

Can you deduct capital gains on a home?

If you are the seller, you could be liable for capital gains tax if the home has increased in value. If you are the buyer, you may be able to deduct mortgage interest, home office expenses, and some or all of your property tax. If you plan to rent the property, you will have to report your rental income and expenses on your taxes.

Can you change the exterior of your house?

You plan to change the exterior of the home. Your local government, historic district, or homeowners' association may have strict rules about what you can and can't do to the outside of your house. These rules can cover everything from teardowns to additions, to solar panels, to new paint colors.

How much does a real estate attorney charge?

If you want your own attorney in addition to the one required by your lender, you’ll also pay for any services they provide you. How and how much a real estate attorney charges will vary, but here are some basic ranges to give you an idea of what you’ll spend: 1 Fixed hourly rate: A real estate attorney who charges an hourly rate may charge $150 – $350 per hour, but this can vary a lot depending on how experienced the attorney is and what area you’re in. 2 Fixed rates for specific services: They may also charge a flat fee for the particular services they provide. For example, a real estate attorney might charge $500 – $1,500 to conduct a home closing. Their fees may also depend on the sale price of the property in question.

Why do you need an attorney for a home purchase?

Here are a few reasons you might need or want an attorney to be part of your home buying team: State or lender requirement: Every state has slightly different laws regarding real estate transactions, and some states consider certain actions that are part of the process to be “practicing law.”. These regulations are often meant to prevent real ...

What is a real estate attorney?

A real estate attorney is someone who is licensed to practice real estate law, meaning they have the knowledge and experience to advise parties involved in a real estate transaction, such as a home sale.

Who is in charge of closing a home?

In some cases, a real estate attorney is also the person who’ll be in charge of your closing. In a home purchase transaction, both the buyer and seller can hire an attorney to represent their interests during the process. Or, in the case where an attorney is overseeing a closing where the home is being purchased with a mortgage loan, ...

What is disclosure law in California?

California law requires sellers to disclose to potential buyers, in writing, any details about the property that could affect the potential buyer's desire to purchase it or the amount the potential buyer is willing to pay. (See, California Civil Code § 1102 .)

How does escrow work in California?

In Southern California, escrow functions are usually performed by an independent escrow company .

Who pays for title insurance in California?

In California, you can negotiate with your buyer regarding who is to pay for title insurance. Local custom in Northern California is for the buyer to pay for title insurance. In Southern California, the seller customarily pays. Sometimes the buyer and seller agree to split the cost. Local custom can vary by county.

What is a PTR in California?

When you sell your California home, a title company will conduct a title search and write a Preliminary Title Report, often called a "PTR.". The title insurance company will provide title insurance to the buyer based upon the PTR. Lenders will require this title insurance as a condition of funding the buyer's loan.

How much is transfer tax in California?

In California, the county transfer tax (as of late 2020) is $1.10 for every $1,000 of the sales price, or 0.11%. Some cities, including San Francisco, Los Angeles, and Riverside also collect their own city transfer taxes, which vary by city.

Who is Steve Wall?

Steve Wall is a seasoned attorney, he is wise in his handling of cases in that he does not overwhelm the client with unnecessary details . Steve is mindful of his clients expenses and does not spend endless hours on facts that do not matter, hence reducing the cost involved in litigation. He is professional, kind, understanding and listens intently. I felt heard and confident that my case was in the right hands. I highly recommend Steve.

Who represented me in a divorce and custody case?

Steve wall represented me in a divorce and custody case. He is very knowledgeable about the law and does an excellent job at keeping the case centered and presented well for the court.

What to do after selling a house?

You can get a clear picture about taxes. After you sell a house, you might have to deal with taxes. It is important to have a clear picture about these taxes in your mind. The property lawyer will be able to help you in here. In fact, the property lawyer will provide you with a clear picture on how taxes are applicable to your transaction ...

Is it mandatory to hire a property lawyer?

When you take a look at the state law that exists in some of the states, you will figure out that it is mandatory to seek the assistance of a property lawyer. Hence, you will not have any other option available to consider than hiring a property lawyer to proceed with completing your transaction. Even if hiring a property lawyer is optional, it is ...

Why do you need an agent for a home?

An agent can also help tone down the emotion of the process by interacting with potential buyers and eliminating tire kickers who only want to look at your property but have no intention of making an offer.

Is selling your home stressful?

At times it may feel like an invasion of privacy because strangers will come into your home, open your closets and cabinets, and poke around.

Is it easy to get emotional when selling your house?

It’s easy to get emotional about selling your home, especially your first one. You spent a great deal of time and effort to find the right one, saved up for your down payment and furniture, and created many memories. People generally have trouble keeping their emotions in check when it comes time to say goodbye.

Why does it take so long to sell a house?

Because fewer buyers are likely to be looking, it may take longer to sell your home, and you may not get as much money. However, you can take some consolation in knowing that while there may not be as many active buyers, there also won’t be as many competing sellers, which can sometimes work to your advantage.

What happens if you don't stage your house?

Sellers who do not clean and stage their homes throw money down the drain. Don’t worry if you can’t afford to hire a professional. There are many things you can do on your own. Failing to do these things can reduce your sales price and may also prevent you from getting a sale at all. If you haven’t attended to minor issues, such as a broken doorknob or dripping faucet, a potential buyer may wonder whether the house has larger, costlier issues that haven’t been addressed either.

Who is Amy Fontinelle?

Amy Fontinelle has more than 15 years of experience covering personal finance—insurance, home ownership, retirement planning, financial aid, budgeting, and credit cards—as well corporate finance and accounting, economics, and investing. In addition to Investopedia, she has written for Forbes Advisor, The Motley Fool, Credible, ...

Do overpriced homes sell?

Absent a housing bubble, overpriced homes generally don’t sell.

What is a real estate agent in Florida?

Your Florida real estate agent is also called the "listing agent," assuming that the agent is responsible for handling the marketing and sale of your property. However, if your agent also represents the buyers in the transaction, which could happen if you consent in writing, your agent will become what's called a "transaction broker." (See Fla. Stat. §475.278.)

How long does it take to close a home loan in Florida?

Closing date. This is typically 30 days in Florida; however, some lenders can take longer to approve the loan, so be prepared for your buyer to request an extension. Inspection. The buyer has the right, under the contract, to inspect the property, by bringing in one or more inspectors or contractors.

Who handles closing in Florida?

Most often, an attorney or a title company, if it is issuing title, handles the closing.

What is a FR form?

Most Florida home sellers or their real estate agents use an FR ( Florida Realtors form or the FR/BAR (Florida Realtors/Florida Bar) form, such as the Residential Contract for Sale and Purchase or the "AS IS" Residential Contract for Sale and Purchase.

What is the Florida seller's duty to disclose?

Unlike in some other states, Florida sellers have an affirmative duty to disclose known defects on the property, as well as defects they should have known about. This duty came from a well-known 1985 case, Johnson v. Davis, in which the Florida Supreme Court determined that the concept of buyer beware did not apply to sales of residential properties. See Selling a Florida Home: What Are My Disclosure Obligations?.

What is a transaction broker?

A transaction broker has certain obligations to the buyer as well as to you. Rather than providing undivided loyalty to the seller, a transaction broker assists both parties, in a limited form of representation. However, the agent is not supposed to represent one party to the detriment of the other.