Why You Should Use an Attorney (and not a Real Estate Agent) When Buying a House.
For most of the last millineum, attorneys have been the only means of transferring property. In the early part of the 20th Century, real estate agents began to be used more frequently and today, the average residential real estate transaction has a buyer's agent and a listing agent. But do you really need a buyer's agent?
Here is why you could use an attorney instead of a real estate agent when buying a house.
1. Real Estate agents are commissioned and paid from your purchase. Some might protect your interest, but in the end, they seek to close and that can be at your expense.
2. An attorney is obligated ethically to do everything for your benefit and will advise you that the deal is not in your best interest.
3. You need to be aware of the pitfalls and dangers in a transaction. An attorney will recognize the worm in the apple. A real estate agent may never see it.
4. The attorney can be paid from the sellers' proceeds at closing as a part of the sales agreement. If the deal is bad, then the attorney will save you the nightmare of purchasing something you shouldn't. Their fees will be worth it.