There are benefits to working with an attorney when you are in the process of buying a home, even if you are also working with an agent.
If you're not working with an agent, you may be able to save money on the purchase price -- up to 3% -- because the listing agent (or "seller's agent") may be willing to reduce his or her commission. Contact me to discuss how to structure such a transaction. Alternatively, you may be buying directly from an owner. In either case, my associate Marc Holmes and I will assist you in making an offer and handling the legal aspects of the transaction.
Regardless of whether you have an agent, the purchase of a home is a legal transaction worth hundreds of thousands of dollars. In completing this transaction, you will sign many documents that will significantly impact your legal rights and liabilities. Given these consequences, you should at least consider hiring an attorney when buying a home.
The most important part of the sale of your home will be the Purchase and Sale Agreement. This contract defines the terms of the sale and generally sets each party's rights and responsibilities. The importance of the Agreement "cannot be overstated," and your lawyer should review it before you sign it.
Even after the signing of a Purchase and Sale Agreement, a purchase of property does not always go smoothly; problems typically arise where someone has entered into the Agreement without the benefit of legal counsel. You may have friends or family who had a deal fall through, or nearly so, because of a problem that arose after they signed the Purchase and Sale Agreement. If you retain us to assist you in your purchase, we will be able to advise you on your legal rights and responsibilities at each step in the transaction so that you are in the best position to fully protect your interests.
If you have an agent, your agent is not a lawyer and therefore cannot give you legal advice. While agents can complete pre-printed forms that were previously reviewed by attorneys, they may not provide legal counsel or otherwise engage in the practice of law, as discussed in the landmark case of Cultum v. Heritage House Realtors , 103 Wn.2d 623 (1985). On the other hand, as licensed attorneys, Marc and I can provide you with legal guidance so that you are fully informed as to your legal rights and obligations throughout the process. If you retain us before a problem arises, we will be able to provide you with prompt legal advice that will assist you in achieving the best possible result.
In a "For Sale by Owner" transaction, we can represent both seller and buyer by providing the forms that are necessary for the sale. Under these circumstances, we simply ensure that the legal requirements for the sale are satisfied. We do not protect the interests of either party -- the parties must protect themselves. Typically, we will only represent both parties if they have a relationship outside of the transaction (e.g. family members).
I look forward to working with you.
