© Home Buyer’s Legal Info 2012
LEGAL INFORMATION FOR NEW HOME BUYERS
HOME BUYER’S LEGAL INFO

Home Buyer’s Legal FAQ

Question?

How can I find a good realtor who will help me find a nice home at a good price?

Answer:

1. Talk with recent clients Ask agents to provide a list of what they've listed and sold in the past year, with contact information, says Ron Phipps, past president of the Chicago-based National Association of Realtors, or NAR. Before you start calling the names, ask the agent if anyone will be "particularly pleased or particularly disappointed," he says. With past clients, "I'd like to know what the asking price was and then what the sales price was," says William Poorvu, adjunct professor emeritus at Harvard Business School and co-author of "The Real Estate Game: The Intelligent Guide to Decision-making and Investment." And, if you're the seller, ask if these past properties are similar to yours in price, location and other salient features, Poorvu says. What you want is someone who specializes in exactly what you're selling. 2. Look up the licensing States will have boards that license and discipline real estate agents in those states, says Phipps. Check with your state's regulatory body to find out if the person is licensed and if there have been any disciplinary actions or complaints, or check to see if the information is posted online. 3. Pick a winner Peer-given awards count, says Phipps. One that really means something is the "Realtor of the Year" designation awarded by the state or local branch of NAR Read more: http://www.bankrate.com/finance/real-estate/7-tips-for-picking-a-real-estate-agent-1.aspx#ixzz3n4zKeSHF

Question?

How can I find a good real estate lawyer who will work in my best interests?

Answer:

Start early Start your hunt for a good real estate attorney about the same time you seriously begin your search for a new home. You want plenty of time to find a good attorney -- you don't want to end up picking one at the last moment without doing any research. Seek others' advice Talk to friends, colleagues and family who've recently purchased a home and ask them if they would recommend the real estate attorney they used. You could also seek the names of reputable attorneys from your real estate agent -- just be sure to get an attorney who's independent of that agent. Ask about the fees charged by the attorney and how well the attorney helped them to navigate the home- purchase process. Look for experience You want to find a "residential attorney" (an attorney who specializes in home sales) who regularly handles real estate transactions, not one who's handled one only a handful of times. Check online with your state's bar association to see if they have a lawyer referral service. There's also a Lawyer Locator service at abanet, the website for the American Bar Association (choose "real estate" from the "areas of practice" pull-down menu and then search under your location). Go online Once you have the names of a few attorneys, check to see if they have websites. There, you can find out more about their backgrounds, credentials, specialties, business style, contact information and whether they have any local offices. (You may need to meet several times with your attorney throughout the transaction -- this would make having a local attorney preferable.)
© Home Buyer’s Legal Info 2012
HOME BUYER’S LEGAL INFO

Home Buyer’s Legal FAQ

Question?

How can I find a good realtor who will help me find a nice home at a good price?

Answer:

1. Talk with recent clients Ask agents to provide a list of what they've listed and sold in the past year, with contact information, says Ron Phipps, past president of the Chicago-based National Association of Realtors, or NAR. Before you start calling the names, ask the agent if anyone will be "particularly pleased or particularly disappointed," he says. With past clients, "I'd like to know what the asking price was and then what the sales price was," says William Poorvu, adjunct professor emeritus at Harvard Business School and co-author of "The Real Estate Game: The Intelligent Guide to Decision-making and Investment." And, if you're the seller, ask if these past properties are similar to yours in price, location and other salient features, Poorvu says. What you want is someone who specializes in exactly what you're selling. 2. Look up the licensing States will have boards that license and discipline real estate agents in those states, says Phipps. Check with your state's regulatory body to find out if the person is licensed and if there have been any disciplinary actions or complaints, or check to see if the information is posted online. 3. Pick a winner Peer-given awards count, says Phipps. One that really means something is the "Realtor of the Year" designation awarded by the state or local branch of NAR Read more: http://www.bankrate.com/finance/real- estate/7-tips-for-picking-a-real-estate-agent- 1.aspx#ixzz3n4zKeSHF

Question?

How can I find a good real estate lawyer who will work in my best interests?

Answer:

Start early Start your hunt for a good real estate attorney about the same time you seriously begin your search for a new home. You want plenty of time to find a good attorney -- you don't want to end up picking one at the last moment without doing any research. Seek others' advice Talk to friends, colleagues and family who've recently purchased a home and ask them if they would recommend the real estate attorney they used. You could also seek the names of reputable attorneys from your real estate agent -- just be sure to get an attorney who's independent of that agent. Ask about the fees charged by the attorney and how well the attorney helped them to navigate the home-purchase process. Look for experience You want to find a "residential attorney" (an attorney who specializes in home sales) who regularly handles real estate transactions, not one who's handled one only a handful of times. Check online with your state's bar association to see if they have a lawyer referral service. There's also a Lawyer Locator service at abanet, the website for the American Bar Association (choose "real estate" from the "areas of practice" pull-down menu and then search under your location). Go online Once you have the names of a few attorneys, check to see if they have websites. There, you can find out more about their backgrounds, credentials, specialties, business style, contact information and whether they have any local offices. (You may need to meet several times with your attorney throughout the transaction -- this would make having a local attorney preferable.)