We can all agree that Realtors are necessary and serve a\u00a0valuable service.\u00a0 I would never suggest anyone buy or sell a property without one.\u00a0 A good realtor will be well informed about the market and about their buyer or sellers needs and desires.\u00a0 But is it a good idea to take legal advice from a realtor?\u00a0 Never.<\/p>\n
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Over the years, I have encountered some great examples of very poor legal advice provided by Realtors.\u00a0 And the advice always has the same consequence – if the buyer took action and didn’t follow the Realtors advice, the closing might get delayed.\u00a0\u00a0Or a problem may be brought to the surface that was otherwise buried.<\/p>\n
My all time favorite bad advice from a realtor – “You don’t need an\u00a0inspection because the house is brand new!”\u00a0 Predictably, the client spent $800,000.00 of\u00a0their hard earned money without spending an additional $500 on an inspection.\u00a0 The result\u00a0– a severe undiscovered mold issue.\u00a0 This issue ended up costing my client tens of thousands of dollars to get resolved, not to mention the time and hassle involved.<\/p>\n
My second all time favorite bad advice from a realtor has two parts, but the first part is the same – “You don’t need a survey, because … the property is just vacant land …. or, the property has a fence on it.”\u00a0 I do laugh when I hear the fence comment.\u00a0 I guess the logic here is that no one would ever put a fence on a property unless they had a survey.\u00a0 Or better yet, maybe the fence company also did the survey.<\/p>\n
Attorneys who practice in the area or real estate serve a very valuable\u00a0purpose – and that purpose is to protect their clients’ interest in the closing process.\u00a0 If you want your transaction to be successful, never take legal advice from someone other than a real estate\u00a0attorney.<\/p>\n\n\n\n\n","protected":false},"excerpt":{"rendered":"
We can all agree that Realtors are necessary and serve a\u00a0valuable service.\u00a0 I would never suggest anyone buy or sell a property without one.\u00a0 A good realtor will be well informed about the market and about their buyer or sellers … Continue reading