Hiring an Independent Real Estate Attorney Instead of a Real Estate Agent Referred Attorney (Part 2 of 3 )
If you ever feel pressured to finalize a real estate deal from a South Florida real estate lawyer or from your agent be very cautious. Your interest is not the same as the interest of your real estate agent at the point of closing, and there may be parts of the deal that you would object to upon closer examination.
This does not mean that every agent will push an unfavorable deal through; most realtors would not do so, but the reality is that there are some unscrupulous realtors who would. As a result, it is important for you to select an independent and unbiased South Florida real estate lawyer to look the transaction over and represent you.
Real estate agents are paid on a commission basis in the vast majority of cases. That means that they only get paid once the contract has been signed and the transaction has been closed. In many situations, real estate agents get all the way to the point of closing and the deal fails because of a buyer or seller concern. When this happens they lose out on the work that they did. This is a risk with their profession, and because of this risk real estate agents have a strong interest in closing a deal quickly.
Many realtors push hard to have a deal closed even if there are legal concerns, price issues, or issues with the property that have not been fully addressed. These issues would be brought to your attention by an independent and experienced South Florida real estate lawyer. Also, a real estate agent can make many good judgments regarding negotiating the purchase or sale of a property but they cannot give you legal advice in any situation.
The inherent conflict of interest is something to pay attention to, and as a result you should seek your own attorney to represent you. Hiring an independent South Florida real estate lawyer will help you avoid the risk of agreeing to a real estate deal that is unfavorable to you. A carefully selected independent South Florida real estate lawyer will be just as skilled and experienced as a referred attorney.
Your real estate agent should never be adamant on having you work with a particular South Florida real estate lawyer, and if they are you should probably be concerned. Your agent might make a suggestion on which South Florida real estate lawyer to hire, but the final decision is always yours.
Contact the experienced South Florida real estate lawyers at Schecter Law if you need independent and experienced representation at your next real estate closing.