Buying a property without a real estate agent

[briansd1]

It seems to me like the two sides have already worked out price, and all they need to do is complete the transaction.

If that is the case, adding an agent increases the costs and complications for nothing.

You don’t need an attorney. The title company won’t issue a policy if there is a clout on title. And if you’re getting a mortgage, the bank won’t fund the purchase unless there’s title insurance.

[briansd1]

[quote=ybitz]Do real estate attorneys provide offer contracts that’s similar (identical?) to the ones that one signs with a realtor? Not sure if those CAR forms are the gold standard for real estate transactions or not.[/quote]

The escrow companies have sales contracts also. The escrow officer will provide one for free. You just pay for the escrow work.

The escrow company is the middleman in the transaction. They don’t take side, just process the paperwork and take the transaction to closing.

[briansd1]

[quote=ybitz]Do real estate attorneys provide offer contracts that’s similar (identical?) to the ones that one signs with a realtor? Not sure if those CAR forms are the gold standard for real estate transactions or not.[/quote]

The escrow companies have sales contracts also. The escrow officer will provide one for free. You just pay for the escrow work.

The escrow company is the middleman in the transaction. They don’t take side, just process the paperwork and take the transaction to closing.

[briansd1]

[quote=ybitz]Do real estate attorneys provide offer contracts that’s similar (identical?) to the ones that one signs with a realtor? Not sure if those CAR forms are the gold standard for real estate transactions or not.[/quote]

The escrow companies have sales contracts also. The escrow officer will provide one for free. You just pay for the escrow work.

The escrow company is the middleman in the transaction. They don’t take side, just process the paperwork and take the transaction to closing.

[briansd1]

[quote=ybitz]Do real estate attorneys provide offer contracts that’s similar (identical?) to the ones that one signs with a realtor? Not sure if those CAR forms are the gold standard for real estate transactions or not.[/quote]

The escrow companies have sales contracts also. The escrow officer will provide one for free. You just pay for the escrow work.

The escrow company is the middleman in the transaction. They don’t take side, just process the paperwork and take the transaction to closing.

[briansd1]

[quote=ybitz]Do real estate attorneys provide offer contracts that’s similar (identical?) to the ones that one signs with a realtor? Not sure if those CAR forms are the gold standard for real estate transactions or not.[/quote]

The escrow companies have sales contracts also. The escrow officer will provide one for free. You just pay for the escrow work.

The escrow company is the middleman in the transaction. They don’t take side, just process the paperwork and take the transaction to closing.

[ben_vo]

Thanks much for the replies.

Yes, that’s right. We have agreed on the price and terms.

In fact, the seller does have an agent (but the agent only will be helping with the paperwork). The agent would do most of the paperwork. I do want to have somebody to go over all details of the offer and other documents that we would have in the process. That’s why I would go with an attorney.

The question is if there are any particular points I should be careful about. For example, I would need to do an inspection, remove contengency, etc.

[ben_vo]

Thanks much for the replies.

Yes, that’s right. We have agreed on the price and terms.

In fact, the seller does have an agent (but the agent only will be helping with the paperwork). The agent would do most of the paperwork. I do want to have somebody to go over all details of the offer and other documents that we would have in the process. That’s why I would go with an attorney.

The question is if there are any particular points I should be careful about. For example, I would need to do an inspection, remove contengency, etc.

[ben_vo]

Thanks much for the replies.

Yes, that’s right. We have agreed on the price and terms.

In fact, the seller does have an agent (but the agent only will be helping with the paperwork). The agent would do most of the paperwork. I do want to have somebody to go over all details of the offer and other documents that we would have in the process. That’s why I would go with an attorney.

The question is if there are any particular points I should be careful about. For example, I would need to do an inspection, remove contengency, etc.

[ben_vo]

Thanks much for the replies.

Yes, that’s right. We have agreed on the price and terms.

In fact, the seller does have an agent (but the agent only will be helping with the paperwork). The agent would do most of the paperwork. I do want to have somebody to go over all details of the offer and other documents that we would have in the process. That’s why I would go with an attorney.

The question is if there are any particular points I should be careful about. For example, I would need to do an inspection, remove contengency, etc.

[ben_vo]

Thanks much for the replies.

Yes, that’s right. We have agreed on the price and terms.

In fact, the seller does have an agent (but the agent only will be helping with the paperwork). The agent would do most of the paperwork. I do want to have somebody to go over all details of the offer and other documents that we would have in the process. That’s why I would go with an attorney.

The question is if there are any particular points I should be careful about. For example, I would need to do an inspection, remove contengency, etc.

[ben_vo]

[quote=EconProf]Most attorneys don’t know enough about the intricacies of RE, unless that is all they do.
[/quote]
I think some real estate attorneys would operat either as an attorney or as a real estate broker/agent. I would hope that as an attorney they would do a similar service to the client.

I would split the work of an agent into two parts: (1) finding a proeprty and negotiating for the price etc., and (2) doing paperwork and going throught the purchase. I would think that the second part is something that the same person could do as an attorney…?

[quote=EconProf]They insert themselves as middlemen in a complicated, lengthy transaction that is filled with landmines. They keep the two warring sides apart in what is essentially a zero-sum game. They move the transaction along and coordinate deadlines, other parties, and necessary paperwork.
[/quote]
Yes, that’s a concern. What complicated things and deadlines should I anticipate?

[quote=EconProf]
BTW, I would not use a friend as an agent–you can’t ream them out if they screw up.[/quote]
Absolutely agree.

[ben_vo]

[quote=EconProf]Most attorneys don’t know enough about the intricacies of RE, unless that is all they do.
[/quote]
I think some real estate attorneys would operat either as an attorney or as a real estate broker/agent. I would hope that as an attorney they would do a similar service to the client.

I would split the work of an agent into two parts: (1) finding a proeprty and negotiating for the price etc., and (2) doing paperwork and going throught the purchase. I would think that the second part is something that the same person could do as an attorney…?

[quote=EconProf]They insert themselves as middlemen in a complicated, lengthy transaction that is filled with landmines. They keep the two warring sides apart in what is essentially a zero-sum game. They move the transaction along and coordinate deadlines, other parties, and necessary paperwork.
[/quote]
Yes, that’s a concern. What complicated things and deadlines should I anticipate?

[quote=EconProf]
BTW, I would not use a friend as an agent–you can’t ream them out if they screw up.[/quote]
Absolutely agree.

[ben_vo]

[quote=EconProf]Most attorneys don’t know enough about the intricacies of RE, unless that is all they do.
[/quote]
I think some real estate attorneys would operat either as an attorney or as a real estate broker/agent. I would hope that as an attorney they would do a similar service to the client.

I would split the work of an agent into two parts: (1) finding a proeprty and negotiating for the price etc., and (2) doing paperwork and going throught the purchase. I would think that the second part is something that the same person could do as an attorney…?

[quote=EconProf]They insert themselves as middlemen in a complicated, lengthy transaction that is filled with landmines. They keep the two warring sides apart in what is essentially a zero-sum game. They move the transaction along and coordinate deadlines, other parties, and necessary paperwork.
[/quote]
Yes, that’s a concern. What complicated things and deadlines should I anticipate?

[quote=EconProf]
BTW, I would not use a friend as an agent–you can’t ream them out if they screw up.[/quote]
Absolutely agree.

[ben_vo]

[quote=EconProf]Most attorneys don’t know enough about the intricacies of RE, unless that is all they do.
[/quote]
I think some real estate attorneys would operat either as an attorney or as a real estate broker/agent. I would hope that as an attorney they would do a similar service to the client.

I would split the work of an agent into two parts: (1) finding a proeprty and negotiating for the price etc., and (2) doing paperwork and going throught the purchase. I would think that the second part is something that the same person could do as an attorney…?

[quote=EconProf]They insert themselves as middlemen in a complicated, lengthy transaction that is filled with landmines. They keep the two warring sides apart in what is essentially a zero-sum game. They move the transaction along and coordinate deadlines, other parties, and necessary paperwork.
[/quote]
Yes, that’s a concern. What complicated things and deadlines should I anticipate?

[quote=EconProf]
BTW, I would not use a friend as an agent–you can’t ream them out if they screw up.[/quote]
Absolutely agree.

[Author]

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