Blog by Ken Morris

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Who's Looking After You?

http://www.robreynar.com/ViewBlog/433/ - Much is made about Realtors being in Dual Agency and representing both Buyer and Seller, but what if your Lawyer is in the same situation? Some things to think about if the Lawyer you choose also represents the other side of the transaction..  

Homes For Sale in Cochrane

 

Who's Looking After You? Blog Transcription

 

 

Hey there! Rob Reynar here just wanna talk about legal representation and making sure you hire the right lawyer. Recently, had a dust up on a possession over chattels or what's to be left with the house. The buyer was not happy with what was left in the house, they felt the seller made a mistake. The seller felt they left exactly what was agreed upon in the contract. Normally on possession day, that's for the lawyers to work out. The buyers lawyer and the seller's lawyer can look at the contract, look at the legal language of the contract and come to some mediation quite quickly. Turns out in this case, the buyer and the seller were using the same lawyer. Now, from the selling perspective they hired the lawyer first but then went and signed the document that said that if there's a dust up or squabble that the lawyer will not be able to help them. That is not a good position to be in, your lawyer is your last line of defense when dealing with contract law. The realtors can only do so much in providing the sort of knowledge about getting the best price and the best terms and finding the buyer and working you through that negotiation process and getting the money on paper, getting the deal firm. But it's really the lawyer that gets it from firm sale to possession and money in your bank account. Be very careful about the lawyer you are choosing. Make sure like a lot of things, you are not just choosing a lawyer based on price alone. Do they do real estate law? and are they willing to say, "No, we don't want to represent the buyer because we're already representing you"? They don't want, you don't want them being in dual agency just like you probably don't like your real estate agent in some cases to be in dual agency. So, make sure you find out who your buyer's or who your lawyer's truly representing, are they representing you? or are they representing you and the buyer? That's something you really wanna know because in this case it caused a lot of problems. Problems that could have been alleviated had they had sole representation from their lawyer. Love to hear your comments on this, info@robreynar.com. R-E-Y-N-A-R, info@robreynar.com. Talk to you soon, buh bye!

This is a transcription of the latest Video Blog from MorrisReynar.com . If for any reason there is a discrepancy between this text and the Video Blog, the Blog is deemed accurate.

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