Should I use a lawyer?

[SD Realtor]

Nesposito if you feel that nobody is looking out for you then there is a serious problem with your representation. Call up your broker, NOT your sales agent, and explain to the broker that you want to come in for a meeting. Tell the broker what is happening, and that you want to sit down, IN PERSON with the broker, and have the broker explain ALL of the terms of the sales contract. There is not really such as thing as your closing documents. The purchase contract and associated disclosures are part of the documentation for the real estate transaction. The other pertinent documents are your loan documents which is really between you and the lender. Your purchase contract needs to be fully explained to you if you do not understand it all.

If after the conversation with the broker you still feel uncomfortable then yes call an attorney. I do agree with sdr that real estate attorneys usually are not simply to explain the purchase agreement. I would also presume that your agent used the standard CAR forms with possibly the short sale addendums and possibly the San Diego County addendum to the purchase agreement. All these are very standard and no matter what the seller or the sellers lender has said, those documents bind both parties and so do the dates that are on those docs.

So… take a breath, call the broker, go to the office, sit down and have him review EVERYTHING. Then see how you feel.

SD Realtor

[Nicole]

sdr, SDR, and pat-

thanks to you all for your response. The explanation of all the documents was very helpful. So there is the purchase contract and the dislosures and the loan docs, right? I’m very comfortable with the disclosures which we reviewed thoroughly, I will take a look at the purchase agreement and be sure I understand everything there too.

I will take a deep breath and hopefully will feel better about the process soon.

Here’s so more background regarding why i panicked a bit this afternoon. The escrow company called and said I need to drop everything and starting signing a bunch of papers today so that we can close on Thursday. (I’m not what exactly needed so be signed) But the point is WE HAVEN’T EVEN COMPLETED THE HOME INSPECTION OR SEEN THE TERMITE REPORT. I called my realtor and he initially said “You can go ahead and sign to keep everyone happy and ask for an addendum saying that you can back out if the inspection turns up anything.” I was baffled by this advice and thought, well I’m no lawyer, but that doesn’t seem wise. So I had my husband call him back (I thought he needed a man to man talk) and tell him that was not in our best interest and that we needed him to advocate for us. The bank is trying to demand that we close sooner and as far as I understand it they’re not in a position to make any demands (there’s no NOD on the home)

We are supposed to have 17 days to close according to our offer, not to mention the fact that we couldn’t remove our contingencies any earlier because the seller had the utilities turned off and they won’t be back on ’til Tues (which delays the inspection until Wed). Sorry to blab on and on… You’re right, i need to take a deep breath.

Another thing, I don’t have a broker. We went straight to the loan officer at San Diego Credit Union, is that who I should have review it?

-nicole
new house hunter

[Nicole]

sdr, SDR, and pat-

thanks to you all for your response. The explanation of all the documents was very helpful. So there is the purchase contract and the dislosures and the loan docs, right? I’m very comfortable with the disclosures which we reviewed thoroughly, I will take a look at the purchase agreement and be sure I understand everything there too.

I will take a deep breath and hopefully will feel better about the process soon.

Here’s so more background regarding why i panicked a bit this afternoon. The escrow company called and said I need to drop everything and starting signing a bunch of papers today so that we can close on Thursday. (I’m not what exactly needed so be signed) But the point is WE HAVEN’T EVEN COMPLETED THE HOME INSPECTION OR SEEN THE TERMITE REPORT. I called my realtor and he initially said “You can go ahead and sign to keep everyone happy and ask for an addendum saying that you can back out if the inspection turns up anything.” I was baffled by this advice and thought, well I’m no lawyer, but that doesn’t seem wise. So I had my husband call him back (I thought he needed a man to man talk) and tell him that was not in our best interest and that we needed him to advocate for us. The bank is trying to demand that we close sooner and as far as I understand it they’re not in a position to make any demands (there’s no NOD on the home)

We are supposed to have 17 days to close according to our offer, not to mention the fact that we couldn’t remove our contingencies any earlier because the seller had the utilities turned off and they won’t be back on ’til Tues (which delays the inspection until Wed). Sorry to blab on and on… You’re right, i need to take a deep breath.

Another thing, I don’t have a broker. We went straight to the loan officer at San Diego Credit Union, is that who I should have review it?

-nicole
new house hunter

[Nicole]

sdr, SDR, and pat-

thanks to you all for your response. The explanation of all the documents was very helpful. So there is the purchase contract and the dislosures and the loan docs, right? I’m very comfortable with the disclosures which we reviewed thoroughly, I will take a look at the purchase agreement and be sure I understand everything there too.

I will take a deep breath and hopefully will feel better about the process soon.

Here’s so more background regarding why i panicked a bit this afternoon. The escrow company called and said I need to drop everything and starting signing a bunch of papers today so that we can close on Thursday. (I’m not what exactly needed so be signed) But the point is WE HAVEN’T EVEN COMPLETED THE HOME INSPECTION OR SEEN THE TERMITE REPORT. I called my realtor and he initially said “You can go ahead and sign to keep everyone happy and ask for an addendum saying that you can back out if the inspection turns up anything.” I was baffled by this advice and thought, well I’m no lawyer, but that doesn’t seem wise. So I had my husband call him back (I thought he needed a man to man talk) and tell him that was not in our best interest and that we needed him to advocate for us. The bank is trying to demand that we close sooner and as far as I understand it they’re not in a position to make any demands (there’s no NOD on the home)

We are supposed to have 17 days to close according to our offer, not to mention the fact that we couldn’t remove our contingencies any earlier because the seller had the utilities turned off and they won’t be back on ’til Tues (which delays the inspection until Wed). Sorry to blab on and on… You’re right, i need to take a deep breath.

Another thing, I don’t have a broker. We went straight to the loan officer at San Diego Credit Union, is that who I should have review it?

-nicole
new house hunter

[Nicole]

sdr, SDR, and pat-

thanks to you all for your response. The explanation of all the documents was very helpful. So there is the purchase contract and the dislosures and the loan docs, right? I’m very comfortable with the disclosures which we reviewed thoroughly, I will take a look at the purchase agreement and be sure I understand everything there too.

I will take a deep breath and hopefully will feel better about the process soon.

Here’s so more background regarding why i panicked a bit this afternoon. The escrow company called and said I need to drop everything and starting signing a bunch of papers today so that we can close on Thursday. (I’m not what exactly needed so be signed) But the point is WE HAVEN’T EVEN COMPLETED THE HOME INSPECTION OR SEEN THE TERMITE REPORT. I called my realtor and he initially said “You can go ahead and sign to keep everyone happy and ask for an addendum saying that you can back out if the inspection turns up anything.” I was baffled by this advice and thought, well I’m no lawyer, but that doesn’t seem wise. So I had my husband call him back (I thought he needed a man to man talk) and tell him that was not in our best interest and that we needed him to advocate for us. The bank is trying to demand that we close sooner and as far as I understand it they’re not in a position to make any demands (there’s no NOD on the home)

We are supposed to have 17 days to close according to our offer, not to mention the fact that we couldn’t remove our contingencies any earlier because the seller had the utilities turned off and they won’t be back on ’til Tues (which delays the inspection until Wed). Sorry to blab on and on… You’re right, i need to take a deep breath.

Another thing, I don’t have a broker. We went straight to the loan officer at San Diego Credit Union, is that who I should have review it?

-nicole
new house hunter

[Nicole]

sdr, SDR, and pat-

thanks to you all for your response. The explanation of all the documents was very helpful. So there is the purchase contract and the dislosures and the loan docs, right? I’m very comfortable with the disclosures which we reviewed thoroughly, I will take a look at the purchase agreement and be sure I understand everything there too.

I will take a deep breath and hopefully will feel better about the process soon.

Here’s so more background regarding why i panicked a bit this afternoon. The escrow company called and said I need to drop everything and starting signing a bunch of papers today so that we can close on Thursday. (I’m not what exactly needed so be signed) But the point is WE HAVEN’T EVEN COMPLETED THE HOME INSPECTION OR SEEN THE TERMITE REPORT. I called my realtor and he initially said “You can go ahead and sign to keep everyone happy and ask for an addendum saying that you can back out if the inspection turns up anything.” I was baffled by this advice and thought, well I’m no lawyer, but that doesn’t seem wise. So I had my husband call him back (I thought he needed a man to man talk) and tell him that was not in our best interest and that we needed him to advocate for us. The bank is trying to demand that we close sooner and as far as I understand it they’re not in a position to make any demands (there’s no NOD on the home)

We are supposed to have 17 days to close according to our offer, not to mention the fact that we couldn’t remove our contingencies any earlier because the seller had the utilities turned off and they won’t be back on ’til Tues (which delays the inspection until Wed). Sorry to blab on and on… You’re right, i need to take a deep breath.

Another thing, I don’t have a broker. We went straight to the loan officer at San Diego Credit Union, is that who I should have review it?

-nicole
new house hunter

[TemekuT]

Hi Nicole:

I have quite a few years experience working in real estate in several different capacities and have seen a lot of different situations. If I understand you correctly, you have no representation and are somewhat naive as to the process of purchasing a resale. The listing agent represents the seller and will do whatever the bank wants done at this point to push the sale to a close and collect the commission. And, probably since you have no agent, the listing agent is receiving the entire commission and is even more motivated to push this deal through even though you haven’t received all the inspections and disclosures.

If you were my relative, I would at this point advise you to pay a broker a fee to advise and guide you through the remainder of the process. I’m not so sure you need a lawyer as an experienced broker should be able to read and decipher the clauses in the boilerplate contract the bank is probably using. You need to make sure you don’t do anything like sign away your rights and end up with a major defect like a cracked slab, a cloud on title, etc.

You might consider contacting any one of the 3 realtors that post to this sight – SD Realtor, sd realtor, and Jim Klinge – to see if you can arrange a fee based short-term arrangement. I’m also a broker (not in the resale business) and I see them all as ethical and informed and they appear to put the clients’ interests at the forefront. Do not rely on the loan rep – their interest is to close the loan and get the commission. And do not just arbitrarily select some broker. You can google Jim, and I think SD Realtor’s e-mail is floating around this website in several locations, adam something or another. I don’t know exactly who sd realtor is. Perhaps some other Piggintonians can supply the e-mail addresses.

I recall you are an M.D. so think of this as a consultation fee. Best of luck to you.

[TemekuT]

Hi Nicole:

I have quite a few years experience working in real estate in several different capacities and have seen a lot of different situations. If I understand you correctly, you have no representation and are somewhat naive as to the process of purchasing a resale. The listing agent represents the seller and will do whatever the bank wants done at this point to push the sale to a close and collect the commission. And, probably since you have no agent, the listing agent is receiving the entire commission and is even more motivated to push this deal through even though you haven’t received all the inspections and disclosures.

If you were my relative, I would at this point advise you to pay a broker a fee to advise and guide you through the remainder of the process. I’m not so sure you need a lawyer as an experienced broker should be able to read and decipher the clauses in the boilerplate contract the bank is probably using. You need to make sure you don’t do anything like sign away your rights and end up with a major defect like a cracked slab, a cloud on title, etc.

You might consider contacting any one of the 3 realtors that post to this sight – SD Realtor, sd realtor, and Jim Klinge – to see if you can arrange a fee based short-term arrangement. I’m also a broker (not in the resale business) and I see them all as ethical and informed and they appear to put the clients’ interests at the forefront. Do not rely on the loan rep – their interest is to close the loan and get the commission. And do not just arbitrarily select some broker. You can google Jim, and I think SD Realtor’s e-mail is floating around this website in several locations, adam something or another. I don’t know exactly who sd realtor is. Perhaps some other Piggintonians can supply the e-mail addresses.

I recall you are an M.D. so think of this as a consultation fee. Best of luck to you.

[TemekuT]

Hi Nicole:

I have quite a few years experience working in real estate in several different capacities and have seen a lot of different situations. If I understand you correctly, you have no representation and are somewhat naive as to the process of purchasing a resale. The listing agent represents the seller and will do whatever the bank wants done at this point to push the sale to a close and collect the commission. And, probably since you have no agent, the listing agent is receiving the entire commission and is even more motivated to push this deal through even though you haven’t received all the inspections and disclosures.

If you were my relative, I would at this point advise you to pay a broker a fee to advise and guide you through the remainder of the process. I’m not so sure you need a lawyer as an experienced broker should be able to read and decipher the clauses in the boilerplate contract the bank is probably using. You need to make sure you don’t do anything like sign away your rights and end up with a major defect like a cracked slab, a cloud on title, etc.

You might consider contacting any one of the 3 realtors that post to this sight – SD Realtor, sd realtor, and Jim Klinge – to see if you can arrange a fee based short-term arrangement. I’m also a broker (not in the resale business) and I see them all as ethical and informed and they appear to put the clients’ interests at the forefront. Do not rely on the loan rep – their interest is to close the loan and get the commission. And do not just arbitrarily select some broker. You can google Jim, and I think SD Realtor’s e-mail is floating around this website in several locations, adam something or another. I don’t know exactly who sd realtor is. Perhaps some other Piggintonians can supply the e-mail addresses.

I recall you are an M.D. so think of this as a consultation fee. Best of luck to you.

[TemekuT]

Hi Nicole:

I have quite a few years experience working in real estate in several different capacities and have seen a lot of different situations. If I understand you correctly, you have no representation and are somewhat naive as to the process of purchasing a resale. The listing agent represents the seller and will do whatever the bank wants done at this point to push the sale to a close and collect the commission. And, probably since you have no agent, the listing agent is receiving the entire commission and is even more motivated to push this deal through even though you haven’t received all the inspections and disclosures.

If you were my relative, I would at this point advise you to pay a broker a fee to advise and guide you through the remainder of the process. I’m not so sure you need a lawyer as an experienced broker should be able to read and decipher the clauses in the boilerplate contract the bank is probably using. You need to make sure you don’t do anything like sign away your rights and end up with a major defect like a cracked slab, a cloud on title, etc.

You might consider contacting any one of the 3 realtors that post to this sight – SD Realtor, sd realtor, and Jim Klinge – to see if you can arrange a fee based short-term arrangement. I’m also a broker (not in the resale business) and I see them all as ethical and informed and they appear to put the clients’ interests at the forefront. Do not rely on the loan rep – their interest is to close the loan and get the commission. And do not just arbitrarily select some broker. You can google Jim, and I think SD Realtor’s e-mail is floating around this website in several locations, adam something or another. I don’t know exactly who sd realtor is. Perhaps some other Piggintonians can supply the e-mail addresses.

I recall you are an M.D. so think of this as a consultation fee. Best of luck to you.

[TemekuT]

Hi Nicole:

I have quite a few years experience working in real estate in several different capacities and have seen a lot of different situations. If I understand you correctly, you have no representation and are somewhat naive as to the process of purchasing a resale. The listing agent represents the seller and will do whatever the bank wants done at this point to push the sale to a close and collect the commission. And, probably since you have no agent, the listing agent is receiving the entire commission and is even more motivated to push this deal through even though you haven’t received all the inspections and disclosures.

If you were my relative, I would at this point advise you to pay a broker a fee to advise and guide you through the remainder of the process. I’m not so sure you need a lawyer as an experienced broker should be able to read and decipher the clauses in the boilerplate contract the bank is probably using. You need to make sure you don’t do anything like sign away your rights and end up with a major defect like a cracked slab, a cloud on title, etc.

You might consider contacting any one of the 3 realtors that post to this sight – SD Realtor, sd realtor, and Jim Klinge – to see if you can arrange a fee based short-term arrangement. I’m also a broker (not in the resale business) and I see them all as ethical and informed and they appear to put the clients’ interests at the forefront. Do not rely on the loan rep – their interest is to close the loan and get the commission. And do not just arbitrarily select some broker. You can google Jim, and I think SD Realtor’s e-mail is floating around this website in several locations, adam something or another. I don’t know exactly who sd realtor is. Perhaps some other Piggintonians can supply the e-mail addresses.

I recall you are an M.D. so think of this as a consultation fee. Best of luck to you.

[EconProf]

BobS
TemekuT is correct, but way too gentle in suggesting you get immediate professional advice. No one in this deal is looking out for you, or even has the incentive to look out for your interests. There are several red flags waving and it really appears you are being rushed so as NOT to get outside advice.
Right now, you have the power. Start signing papers and you lose that leverage. Run, don’t walk, to get outside, impartial third party advice.

[EconProf]

BobS
TemekuT is correct, but way too gentle in suggesting you get immediate professional advice. No one in this deal is looking out for you, or even has the incentive to look out for your interests. There are several red flags waving and it really appears you are being rushed so as NOT to get outside advice.
Right now, you have the power. Start signing papers and you lose that leverage. Run, don’t walk, to get outside, impartial third party advice.

[EconProf]

BobS
TemekuT is correct, but way too gentle in suggesting you get immediate professional advice. No one in this deal is looking out for you, or even has the incentive to look out for your interests. There are several red flags waving and it really appears you are being rushed so as NOT to get outside advice.
Right now, you have the power. Start signing papers and you lose that leverage. Run, don’t walk, to get outside, impartial third party advice.

[EconProf]

BobS
TemekuT is correct, but way too gentle in suggesting you get immediate professional advice. No one in this deal is looking out for you, or even has the incentive to look out for your interests. There are several red flags waving and it really appears you are being rushed so as NOT to get outside advice.
Right now, you have the power. Start signing papers and you lose that leverage. Run, don’t walk, to get outside, impartial third party advice.

[Author]

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