Expert: Dick Dennis - 9/19/2006

Question
We're buying an older rural property and starting with a construction loan to repair, update and add a family room.  We had planned to have a lawyer look over the papers before closing but had another unexpected expense show up. Our real estate agent is also the listing agent for the property & we discovered that he does a lot of work for the seller, a property developer.  We don't trust the situation much for a lot of reasons. Since we aren't having a lawyer look over the papers, do we still have the right to see things before the actual closing?  Seems it would be nerve wracking to try and read everything and study it at the closing itself! Yikes! They want to close in the next few days. What do we do?

Answer
What would you do if you saw that you were about to come down with a very grave illness, Wendy? Would you not go to your doctor to fend it off?

You are about to get a grave illness with your real estate purchase. A local REAL ESTATE attorney must be on your side in this transaction, especially when the listing agent is representing the seller. Please be assured you will rue the day that you failed to have someone represent YOUR interests.

I do wish you well, Wendy. Please excuse the late response. My responses are usually ultra fast.

Dick Dennis                  dixiedee13@aol.com