Home Buying in 78229>Question Details

rarthur_68, Home Buyer in Katy, TX

Hello, first time buying a "for sale by owner" here in TX...If a title co. is used by seller, should I (buyer) also hire a real estate?

Asked by rarthur_68, Katy, TX Tue Apr 23, 2013

attorney, too? My name is Rich and I live in San Antonio, TX

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Answers

12
Purchasing a home is an endeavor full of many issues. Without a licensed Realtor on your side as a buyer's agent, you are in great danger. We read sad story after sad story here of buyers and sellers who tried to save a buck, and ended up in a pile of do-do. If you don't have a Realtor on your side, by all means pay for an attorney with real estate experience. Call a local title co. for a referral. And the title company chosen by the seller is issuing the owner's title policy for your protection.

Good luck. . .you'll need it!

Barbara Coker'
Licensed Loan Officer
NMLS#228545
100% Home Loans All Over Texas!
1 vote Thank Flag Link Tue Apr 23, 2013
If you are not represented by a Real Estate agent, then I would definitely suggest that you have a Real Estate attorney review your purchase contract so you know exactly what each party is liable for. Also, I would have to highly suggest you hire an inspector to give you a report on any exiting conditions that need repair or may need repair in the near future or even items that may be out of code.

Any more questions ? ? ?

Gregory Touchstone
Keller Williams Realty
210-660-2834
gregory.touchstone@gmail.com
1 vote Thank Flag Link Tue Apr 23, 2013
Typically a Realtor can negotiate the fees with the seller, even a for sale by owner, saving you the buyer money. I would highly recommend hiring a realtor to help you through this process. A Realtor can guide and protect you through this process to insure you do not get taken advantage of.

I will not tell you not to hire an attorney, however most of the time they only complicate a house transaction. If you were going to court I would say 100% hire and attorney, but you are buying a home so I say 100% hire a Realtor.

Please call me with any question you may have.


Raymond Giles
Broker Associate
Keller Williams Realty City View
10999 IH-10 West Suite #175
San Antonio, TX 78230

(210) 422-9565 Cell
(210) 696-9996 Office
(210) 696-9981 Fax
ray@raymondgiles.com
0 votes Thank Flag Link Tue Aug 20, 2013
You can hire a real estate attorney if you feel like you need one. The title company is going to provide you title insurance and will facilitate the closing when your loan is done, or if you are paying cash.

While I will never discourage anyone from having a real estate attorney review everything for you... I will also say, most people don't spend the extra money. Usually, the title company or your lender can explain almost anything you need.

Jason
0 votes Thank Flag Link Wed Apr 24, 2013
Are you shopping for a Home? It may seem backwards to shop for a mortgage before you shop for the house, but there are several reasons for doing this. Shopping for a mortgage will also help if you can get “pre-approved” for the amount you’d like to borrow. This means the lender has looked over your credit and financial statement and agreed to lend you the money. Sellers like pre-approved buyers because there’s less risk the deal won’t go through. First, you’ll find out how much you can borrow, which has a lot to do with how much house you can buy.

Whether you’re, buying, building or Re-Financing your dream home, you have a lot riding on your decision. Market conditions and mortgage programs change frequently, and I welcome the opportunity to serve your needs with quick and accurate real estate financing advice. I have the expertise and knowledge to help you determine the absolute best loan program to meet your objectives. Get my top 25 Questions for FREE that you should be asking your lender before you choose them to secure a mortgage. If you are already working with a lender, don’t be shy to give me call so I can price the same mortgage for you with less cost. What do you have to loose but your money?

Ensuring that you make the right choice for you and your family is my ultimate goal. And I am committed to providing my customers with mortgage services that exceed their expectations.. As always, you may contact me anytime by phone, fax or email for personalized service and expert advice.

I look forward to working with you!
Lowell Sterling
Mortgage Banker
NMLS# 968898
LSterling@englending.com
16800 N. Dallas Pkwy, Suite 290 | Dallas, TX 75248
Office: 972-646-2411 | Cell: 214-418-7022 | Fax: 214-614-4637
Bank of England /dba ENG Lending: NMLS# 418481
0 votes Thank Flag Link Wed Apr 24, 2013
Do you have a Realtor? If not...why not?
0 votes Thank Flag Link Tue Apr 23, 2013
Buying a home is probably the biggest investment you will ever make - you need to make sure you have representation. If the seller has a contract drawn up for "their" benefit, you need to make sure your interests are covered as well.

Do you have a time frame for doing inspections? What happens if the inspections show up a condition you are not willing to deal with? Has the seller provided you with a detailed disclosure of their repairs to the property? Have they provided you with a survey? Who will pay for homeowner association documents and transfer fees? Will the house be appraised? These are just a few issues that need to be spelled out.

These are just a few of the reasons you should hire a real estate agent to explain all the details of what it takes to buy a home. To make sure your legal interests are covered definitely contact a real estate attorney before it's too late.

Whenever you are planning on buying a home here is a link to some tips to help you decide on a neighborhood.
http://chris-mysanantoniohome.blogspot.com/p/check-your-new-…
0 votes Thank Flag Link Tue Apr 23, 2013
Yes....make sure they review your contract before you ever sign it.
The title company does not represent anyone. They're just doing the title search and probably acting as the escrow agent.

You want to hire a board certified real estate attorney to represent your interests before you ever even sign the contract.

Buying FSBOs can mean a lot of headaches. As others have said, normally they're overpriced by about 10%, but there are a whole host of other issues as well, such as disclosures, condo documents, dues, who pays what closing costs, what contract forms did you use, etc. That's why you want your own attorney involved if you do decide to go after FSBOs.
0 votes Thank Flag Link Tue Apr 23, 2013
thanks, Bruce
Flag Tue Apr 23, 2013
Bruce Lynn, Real Estate Pro in Coppell, TX
MVP'08
Contact
Rich, it's probably too late for a real estate agent, and this is a disadvantage to you, but you should find and use a real estate attorney ASAP!!!!
0 votes Thank Flag Link Tue Apr 23, 2013
Rich,

Consider this: in my experience, almost every FSBO is listed at a price higher than market value. Are you getting a decent deal? Nobody will know in the situation you are describing - I hope you at least used a contract that lets you get out of it if the home doesn't appraise. A real estate attorney cannot tell you a realistic market value as they don't have MLS access. A buyer's agent can. If you are already under contract with the FSBO, it's a little late to be asking this question and I wish you the best of luck. If not, call a buyer's agent immediately who can make sure you don't overpay and protect your interests.

Sincerely,
Justin Werner, ABR, CRS, SFR
Accredited Buyer Representative
Certified Residential Specialist
Short Sale & Foreclosure Resource Certified
RE/MAX Exclusive
10000 San Pedro, Suite 110
San Antonio, TX 78216
210-367-4757 Cell
http://www.JustinWerner.com

Past Client Video Testimonials:
http://rem.ax/UnjL2O
Your Home Sold in 120 Days, GUARANTEED!
http://www.SellHomeIn120Days.com
Save at least $2,500 on your next home purchase, GUARANTEED!
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0 votes Thank Flag Link Tue Apr 23, 2013
Do not worry, I will take care of the details for you.
Just call me.
Thanks!
Sincerely,
Jose L. Novelo
0 votes Thank Flag Link Tue Apr 23, 2013
Hi Rich,

I would have suggested you use a Realtor® to represent you. Many times buyers think they are getting a better deal when working through the seller FSBO. My thought is that unless you or the seller know the home buying/selling process it's much like the blind leading the blind.

I would suggest you hire someone to see to your interests in this transaction a good buyers agent may have costed you less than a Real Estate Attorney since many times we get the seller to pay. That being said, you should definitely hire someone for you. Good luck.

Brenda Mullen
Realtor®, ABR
RE/MAX Access
brenda.mullen@sbcglobal.net
210-807-0819
0 votes Thank Flag Link Tue Apr 23, 2013
You are very welcome Rich. Lots of luck to you and your new home!
Flag Tue Apr 23, 2013
Thank you, Brenda
Flag Tue Apr 23, 2013
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