How JustAnswer Works:
  • Ask an Expert
    Experts are full of valuable knowledge and are ready to help with any question. Credentials confirmed by a Fortune 500 verification firm.
  • Get a Professional Answer
    Via email, text message, or notification as you wait on our site.
    Ask follow up questions if you need to.
  • 100% Satisfaction Guarantee
    Rate the answer you receive.
Ask Irwin Law Your Own Question
Irwin Law
Irwin Law, Lawyer
Category: Real Estate Law
Satisfied Customers: 6769
Experience:  Lawyer- Broker 30+years - foreclosure, short sale, liens, title attorney.
Type Your Real Estate Law Question Here...
Irwin Law is online now
A new question is answered every 9 seconds

Should I get a lawyer to help in close on home? My appraisal

Customer Question

Should I get a lawyer to help in close on home? My appraisal was $8k less than the agreed price which I'll need to negotiate with buyer. The real estate agency is the same for both buyer and seller (just the agents are different).
Submitted: 6 months ago.
Category: Real Estate Law
Expert:  Irwin Law replied 6 months ago.
Lawyers can come in very handy in real estate sales. I don't know what the technical issues are in your situation, but if you can find one who is reasonably priced, you should be rewarded by sleeping well at night after the closing. If you cannot negotiate a lower price, you may need the legal assistance in order to get out of the transaction and recoup your earnest money. I hope that you will enter a positive rating for this answer.
Customer: replied 6 months ago.
Im the seller and the appraisal was $8k lower. Should i get closing date to be the same date as the bank's payoff calc date? Thanks.
Expert:  Irwin Law replied 6 months ago.
I apologize for the little mixup in the buyer – seller designation. It is less necessary for a seller to have an attorney than one for the buyer. Most sellers are able to calculate the deductions and are well aware of how much they are to receive at the closing.The closing date can be any date. The bank will calculate the payoff according to the closing date and then show a per diem (daily) interest rate for any days past that date.
Customer: replied 6 months ago.
Hi, please ignore my follow question. I'll just ask my realtor. Thanks.
Expert:  Irwin Law replied 6 months ago.
I am not sure what question you are referring to. You can rate this answer now and still submit a follow up question on this thread. There would be no additional cost to you to do either.

Related Real Estate Law Questions