My buyer's agent recommended a lawyer I should hire to do the P&S agreement, but I've heard that agents usually handle that themselves since it's not that complicated.
2007-07-28 09:36:34 · 5 answers · asked by dullerd 2 in Business & Finance ➔ Renting & Real Estate
Our buyers agent also recommended that we use a lawyer for reviewing our P&S, but said that it was completely optional. Since we are first-time homebuyers this was a no-brainer for us. The attorney who is representing us at the closing will also review our P&S, for a fee of $150.
Personally, I just like having an extra person saying that everything looks good and proper.
Good luck to you!
2007-07-28 13:07:21 · answer #1 · answered by rubiachica1978 1 · 0⤊ 0⤋
In Texas we have a contract promulgated by the State Real Estate Commission. In some states the agent does an offer to purchase and then there is a second step called a P&S. Every website I Iooked at said you should have an attorney draw that up.
I guess in those states the offer to purchase is not really binding until you do this "purchase & sale agreement". I wonder if the attorney lobby is strong in those states?
2007-07-28 17:14:27 · answer #2 · answered by glenn 7 · 0⤊ 0⤋
If you have an agent that doesn't know how to do a Real Estate contract, then you need a new agent, because they probably don't know how the rest of the transaction is supposed to work either.
Call the supervising broker and ask for an EXPERIENCED agent...they will most likely allow you to change.
That...is scary!
2007-07-28 16:40:45 · answer #3 · answered by Expert8675309 7 · 0⤊ 0⤋
Don't you believe it. The Conveyancing as it is termed has got some tricky points.You can actually do it yourself. There is a web site that can help you,but to be honest, I cannot remember name. Perhaps you could type it in? But I wouldn't let the agent do it.Shop around for a competent lawyer.The money you spend now, safeguards your title.
2007-07-28 16:42:22 · answer #4 · answered by Anonymous · 0⤊ 0⤋
Why do you have an agent if what you need is a lawyer? And why would you get a lawyer if what you need is an agent?
hmmmm weird
here; go here and look
HUD 100 questions and answers on buying a home
http://www.hud.gov/offices/hsg/sfh/buying/buyhm.cfm
Get competent help
2007-07-28 16:45:02 · answer #5 · answered by newmexicorealestateforms 6 · 0⤊ 2⤋