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FSBO Fact: Agents are not lawyers

Posted by admin | November 19, 2009

I did an interview the other day with a television station out of Ohio. During our conversation, he asked how do sellers handle legal paperwork and questions. I simply responded, we recommend all sellers and buyers have legal representation to limit and avoid legal risk and to make the closing of your sale much easier. He then asked if Real Estate Agents handle legal documentation and questions for their clients.

Unless and a Real Estate Agent is an attorney, they should not offer legitimate legal advice during a close.

Fact 1: Real Estate Agents are not lawyers so they can not provide buyers and sellers with binding legal advice. Meaning if something were to happen during the close process or post close, you the buyer or seller are on the hook.

Fact 2: Home sellers and buyers pay for any legal representation regardless of whether they are working with a real estate agent or not.