Real Estate

Attorney and Buyers Agent

Sat Apr 05, 2008 8:02 pm
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Step Two: Who To Contact to Purchase Real Estate

Once an individual or couple has decided to purchase property the second decision is who should be contacted before actually looking at any real estate.

Mortgage Options

Check with your local financial institution to find out if they provide mortgage loans and second the terms they would offer. Be wary of anything you find on the web. Some web sources are great and others are questionable. Again, doing your homework is essential to the decision process.

Referrals from friends and or relatives are always worth listening to, but make certain you do not accept what is told to you unless and until you verify the credentials of the lending source. The Better Business Bureau or the State Corporation Commission may prove to have valuable information on lenders etc.

Working with a Real Estate Attorney

This next point is quite possibly the most important step in the entire process. Secure the services of a reputable real estate attorney who is willing to act as your representative throughout the process. An attorney is bound by their license to practice Law to act in your best interests at all times.

So, once you have your attorney selected and have secured at least four lenders to review their terms of a loan you may want to secure the services of a Buyers Agent Realtor.

Buyers Agent

The Buyers agent is required by their real estate license and law to represent your best interests as purchasers. The Buyers Agent may not disclose any of your conversations to a seller. Make certain that this point is made clear at the outset. In most States the Buyers Agent would have the prospective buyer sign a Disclosure of Buyers Agency. If you are not asked to do this be skeptical of that Realtor.

Realtors are like any other profession. The very best are less than 10% of the total number licensed to practice real estate. You definitely want to secure the services of a Realtor in that 10% percentile.

Do not hesitate to ask around by way of your attorney, lender, friends etc. as to who would do the best job for you in the area you are looking to purchase.


Interviews are critical to the purchase of any home or land. Make certain that you interview several Realtors by inquiring as to their history in real estate. If they have just entered the profession they may not be the right choice.

When a Realtor can say without equivocation that he/she has had 5 years of experience and has averaged 40 transaction per year that may be the right choice if you are comfortable with that person.


Therefore, securing a lender, attorney and Realtor are mandatory prior to setting foot on any land or home for sale.

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Questions to ask a Lender

Questions to ask your Real Estate Attorney

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