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Ask Attyadvisor Your Own Question
Attyadvisor, Attorney
Category: Real Estate Law
Satisfied Customers: 6729
Experience:  29 years of experience in General Practice, Real Estate Law and Estate Law.
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In a FAR/BAR purchase and sale contract in a short sale, buyer

Customer Question

In a FAR/BAR purchase and sale contract in a short sale, buyer agreed to use seller closing agent and pay attorney fees not paid by selling bank. This clause was inserted by listing agent and the HUD has closing attorney charging $500 attorney fee (for foreclosure defense and or short sale negotiation) in addition to the closing fee. Before closing buyer hired his own attorney. This attorney is objecting to this attorney fee saying it is a conflict of interest and that buyer never hired closing attorney. Who is right?
Submitted: 4 years ago.
Category: Real Estate Law
Expert:  Attyadvisor replied 4 years ago.
Hello and thank you for your question. Just to clarify the buyers attorney is objecting to his client paying the seller's attorney's fees? Is that correct?
Customer: replied 4 years ago.


Expert:  Attyadvisor replied 4 years ago.
I can certainly see the logic of the attorney. I would be a little concerned for the attorney accepting fees paid for by the buyer. In this situation you have the seller's attorney being paid by the purchaser and that is a conflict. Seller's attorney should have worked out a different arrangement to err on the side of caution.

Obviously any assistance that resulted in the property closing was helpful to all parties. That being said could the buyer pick up another seller cost that would not be considered a conflict?