[ben_vo]

Thanks for the replies.

Once a seller (of another house), who was also a real estate agent, mentioned that if there is no exclusive agreement there is no obligation to include the agent in the transaction even if he has shown the house to you. However, I would say that in this case perhaps the agent would have a point in demanding compensation. In my case, I do not see why I would need to compensate.

[ben_vo]

Thanks for the replies.

Once a seller (of another house), who was also a real estate agent, mentioned that if there is no exclusive agreement there is no obligation to include the agent in the transaction even if he has shown the house to you. However, I would say that in this case perhaps the agent would have a point in demanding compensation. In my case, I do not see why I would need to compensate.

[ben_vo]

Thanks for the replies.

Once a seller (of another house), who was also a real estate agent, mentioned that if there is no exclusive agreement there is no obligation to include the agent in the transaction even if he has shown the house to you. However, I would say that in this case perhaps the agent would have a point in demanding compensation. In my case, I do not see why I would need to compensate.

[ben_vo]

Thanks for the replies.

Once a seller (of another house), who was also a real estate agent, mentioned that if there is no exclusive agreement there is no obligation to include the agent in the transaction even if he has shown the house to you. However, I would say that in this case perhaps the agent would have a point in demanding compensation. In my case, I do not see why I would need to compensate.

[ben_vo]

Thanks for the replies.

Once a seller (of another house), who was also a real estate agent, mentioned that if there is no exclusive agreement there is no obligation to include the agent in the transaction even if he has shown the house to you. However, I would say that in this case perhaps the agent would have a point in demanding compensation. In my case, I do not see why I would need to compensate.

[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.

[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]

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.

[Author]

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