Buying or Selling a Home/Closing Attorney

Advertisement

Expert: - 4/17/2010


Question
Hi; I have a relative that just made an offer on a house and the seller is requesting they use his closing atty. He say's he had a previous bond for deed and this atty. has all the paperwork for that transaction. Is this wise or should they use another atty. not familiar with the seller???

Answer
Hello Carolyn,
There are plenty of transactions that close with only one attorney.  There are a few things I would ask thought. Is your relative represented by a Realtor with a Buyers Agreement, not just a real estate agent?  They are not the same thing necessarily. Is this a CASH transaction?  If No to the Realtor or Yes to the Cash Transaction, get a Real Estate Attorney, an attorney who specializes in Real Estate law. Also make absolutely sure they get an OWNERS TITLE Policy.  This should run around $150 +/- one time only, and anyone who purchases property should have one.  Ultimately though, it is a personal decision but the above would be my personal guidelines for deciding if I needed an attorney.
Hopes this helps you.

Buying or Selling a Home

All Answers

Answers by Expert:

Ask Experts

Volunteer

Sharon Huneycutt, Realtor, Associate Broker, GRI, e-PRO

Expertise

A lot of people who want to move to the mountains don't really realize what it might involve. For instance, here in North Georgia, if you want a mountain view, you may have to drive up very steep roads. Will you have well water (That's usually good!)? Do you speak septic tanks? Have you considered that if you want really want to get away from it all, you'll do it on a gravel road? What's difference between a Log home and a Log Sided home? How can I tell? Who takes care of the house when you're not there? Where can you stay to check it out? This is a very popular area for second homes and investment properties or when you finally decide to get way from it all, I can find your perfect property. I can answer questions on North Georgia Mountain living, housing, land, amenities, and activities. We handle a lot of foreclosed properties in our office so I have become a Certified REO Specialist. REO means Real Estate Owned and is the industry name for a Foreclosure. It refers to "owned by a bank or other corporate entity". If it involves an area of expertise I don't have, I can probably tell you what kind of an expert you do need.

Experience

We've had property in the Ellijay area for over 10 years. My husband, who is a Civil Engineer and Appraiser, and I built our own log home. We researched log homes and North Georgia for three years before choosing Ellijay. Because of the building experience and being married to an engineer/appraiser, my real estate experience is a bit more extensive than average. I also am an education freak believing that the more you know, the better off you are. My husband and I both like photography, so we drive and hike all over the mountains looking for pictures.

Education/Credentials
MHA, CMA, Licensed Realtor, Associate Broker, e-PRO, GRI, Certified REO Specialist. Realtors are required to have 24 hours of continuing education every 4 years. In the last three years, I have 180 hours so far!

©2012 About.com, a part of The New York Times Company. All rights reserved.