Home Buying in Birmingham>Question Details

Bernice, Real Estate Pro in Philadelphia, PA

Owner financing; is it necessary to have an agent on my end or would having my own attorney look over the paperwork be sufficient? Thank you.

Asked by Bernice, Philadelphia, PA Mon Apr 11, 2011

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The typical real estate sale/loan closing transaction includes Realtor, Attorney and Loan Officer. (The Loan Officer should be the most familiar with the specific eliments of the mortgage and note). Guidance from all would be helpful and any of these could obtain the assistance of the others for you.o
If you decide to call on an attorney qualify that it is a "real estate" attorney.
0 votes Thank Flag Link Mon Apr 11, 2011
Neither a Realtor nor an Attorney is a replacement for each other. You should work with both.
Web Reference: http://www.pauld-kw.com
0 votes Thank Flag Link Mon Apr 11, 2011
Bernice: Many attorneys work with Licensed Real Estate Professionals. Interview several real estate attorneys who specialize in owner financing, and ask them if you need a Real Estate Broker to assist with the real estate disclosures and other necessary Real Estate Functions or if they provide the service.

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0 votes Thank Flag Link Mon Apr 11, 2011
I am sure that having your own attorney would suffice on your side, but I'm not at all sure if that is something that a buyer would be comfortable with (unless of course they have an agent represent them)..
0 votes Thank Flag Link Mon Apr 11, 2011
Do you already have a Buyer? If not, and you need to market the property then I would highly recommend hiring a Listing Agent. However if you already have a Buyer in place then just having your attorney should be fine.
0 votes Thank Flag Link Mon Apr 11, 2011
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