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Barrister
Barrister, Lawyer
Category: Real Estate Law
Satisfied Customers: 33730
Experience:  15 years real estate, Realtor. Landlord 26 years
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Should I find a local real estate attorney to handle my sale

Customer Question

Should I find a local real estate attorney to handle my sale closing, documents, filing of documents at court house when sold, etc? If so, is there a place I can go to find a listing of attorneys near me?
Submitted: 1 year ago.
Category: Real Estate Law
Expert:  Barrister replied 1 year ago.
Hello and welcome! My name is ***** ***** I will try my level best to help with your situation or get you to someone who can.
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Are you selling your house privately to a cash buyer?
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Or is the buyer going through a bank?
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thanks
Barrister
Customer: replied 1 year ago.
I would assume the buyer would be going thru a bank; my neighborhood is non HOA and a very desirable family area in the Gardens. I would think that most buyers in my neighborhood would be required to pre-qualify with a lending institution and hopefully, be approved for a mortgage. So long answer is that they would need financing.
Thanks.
Expert:  Barrister replied 1 year ago.

I apologize for the delay, had to run down to court to file something..

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If the buyer is going through a bank for financing, they will have their own preferred title/closing company who will handle all the details of the transaction. The only thing you have to provide is a deed, and they will normally arrange to have that drafted for you as part of the closing package for the buyer.

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So there really isn't a need for you to have an attorney represent you in a sale unless you simply want someone there for moral support as the closing company will handle everything from start to finish for you as part of their deal with the buyer and the bank.

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As an aside, I used to be a closing attorney for several different lenders in my area..

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thanks

Barrister

Customer: replied 1 year ago.
What are the typical closing costs for the seller? Filing documents in court house? Deed or title? That sort of thing? And if I must end up selling using a realtor, what are the typical fees they charge and is it customary to attempt to negotiate with the realtor for a lower fee or percentage?
Expert:  Barrister replied 1 year ago.

Closing costs for the seller are normally just the cost of a deed preparation and any proration for taxes and then a minimal charge for recording the deed. So deed prep, maybe $100-150, recording fees around $15-30.

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A realtor will typically charge 6% of the sales price as a commission. They don't like to admit that the commission is negotiable, but it is. Virtually all the realtors in my area charge 6%, but when I list a property (I am a Realtor as well) I only charge 5%.

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thanks

Barrister