 | Draft or review after consultation the purchase contract including offers to purchase, counteroffers, amendments, and notices. |
| Negotiate terms with opposing counsel, real estate agent, or other party. |
| Hold earnest money in trust if necessary. |
| Monitor contingencies and deadlines. |
| Review disclosures and reports. |
| Review title insurance commitment and advise regarding requirements and exceptions. |
| Coordinate, schedule and attend closing**. |
* Client must understand and acknowledge that the flat fee is based upon an anticipated attorney time requirement of between 2 and 5 hours and is a 6 month engagement. If problems arise and a case requires litigation, or additional attorney time requirements, a separate fee agreement must be negotiated to the mutual satisfaction and consent of the client and the Graham Law Office.
** Personal attendance at closing is included for closings located in Madison. For other closings, we will review all documents in advance and be available by telephone but will not personally attend unless the client specifically requests personal attendance. Travel time will be charged in addition to the flat fee at normal attorney hourly rates (currently $200 per hour).
WHY PAY MORE FOR LESS REPRESENTATION? Real estate agents, realtors, mortgage brokers, and title insurance companies are prohibited from providing clients with legal advice. Only your attorney is permitted by law to provide you with legal advice regarding your rights and responsibilities. Other real estate service providers generally are paid only for closed transactions. This dynamic creates an inherent incentive to push transactions regardless of the wishes or best interests of the client.
Do yourself a favor - hire a
qualified real estate attorney.
A real
estate lawyer pursues and protects the best interests of you, the client.
Regardless of which other players are involved in a home sale,
it is paramount for you to have a qualified and experienced real estate attorney
representing your interests. In any residential transaction, you need someone on
your team who has been through the process hundreds of times. An experienced
real estate attorney can anticipate problems and can react appropriately to
protect your best interest.
In a FSBO (For sale by owner) home sale transaction, typically neither party has
been through the process more than a few times. Obviously, whether you are a first-time home buyer or selling
your fifth home, it is valuable to have access
to the necessary forms and contracts provided by a real estate attorney. More importantly,
your real estate attorney can provide guidance on title issues, hidden fees, contingency problems,
and proposed solutions. When a broker is "representing" the other side of the transaction, there is the
additional disparity of experience unless you bring a real estate
lawyer onto your side. When a broker is "representing" both sides of a
transaction, the situation is so rife with conflicts of interest (of the
type that no lawyer would touch) that an actual advocate for your interests
becomes critical. Graham Law Office would appreciate the opportunity
to work with you, but whether you hire us or another attorney, do yourself a
favor, hire an experienced real estate attorney.
Why hire a real estate
attorney to protect your interests?
Your attorney is obligated to
protect your interests and only your interests. Most people will buy and
sell a few homes in their lifetimes, yet these few sales will involve some
of the largest transactions which affect their personal assets. Your real
estate attorney should have the experience gained from hundreds of
transactions to anticipate and avoid problems and to craft appropriate
solutions. Unlike your mortgage broker or real estate broker, only your
attorney is qualified and licensed to provide you with legal advice.
Why hire a flat fee real
estate lawyer?
Many clients prefer a flat fee
simply so that they know the cost of representation with certainty.
Alternatively, you can retain Graham Law Office on an hourly rate basis.
In either case, unlike
a real estate agent or mortgage broker, your attorney is not paid a
commission and therefore has no financial interest in a particular
transaction.