Selling and/or buying a home can be an aggravating, time consuming, and expensive endeavor which typically involves working with a team of “professionals,” all with their hands out for their cut. There are real estate brokers, mortgage brokers, and real estate lawyers to contend with, just for starters. As in all professions, some are good, some are bad, and some are just plain evil, greedy bastards.
For the past seven years, I've known where I wanted to move as soon as my ex-boyfriend and I could finally agree to sell our old place. It’s a great coop complex in the Bronx near my current boyfriend BG. I’d first seen it advertised when I picked up one of those free “real estate books” they had in a kiosk on Fordham Road. The two page ad blew me away right then and there.
A few years passed, and I became manic and almost bought a place there — even put down a hefty deposit and signed a contract. But I realized that paying a mortgage as well as maintenance, though do-able, would be more of a stretch than I’d feel comfortable about, and I was able to get my deposit back.
But S, the guy I dealt with at the coop’s management company, remembered me when I called him again after we’d finally put our Manhattan coop on the market last fall. He told me to call back when we went into contract, and call I did.
Soon enough S showed me the home of my dreams. I got all my paperwork in order. I was paying cash, so no mortgage hassle was involved. He did a credit check, and informed me that I had an A-plus score.
S had a list of several lawyers he worked with on contracts and closings, and gave me two names to choose from. I called B and we got down to business, or so I thought.
B’s fee was relatively modest, especially compared to the lawyer we retained for the closing of our place downtown. But that lawyer met with us in his office and sat down with us for at least an hour and went over the contract line by line. He was friendly, courteous, and a pleasure to work with.
Article comments
1 - Julia H, Louisville, KY
Do you give any advice to first time home buyers like my husband and I? We have a similar story, except we are being told about a bid we made on a house, and being told a line of crap. Please let me know. I'm at my wits end with this, and have no clue who to ask for advice. I found your article while searching the words "real estate lawyers." Thank you for your time, and if you can't lend any advice, thanks for at least getting the word out on slimeballs like the one you wrote about! There are LOTS!!!!
2 - Elvira Black
Hi Julia:
So sorry to hear about your trouble, but of course you're not alone. There's a site called Active Rain run by real estate professionals that you might like to check out, as they have real estate agents and other RE professionals from all over the country who participate, and most seem very committed to providing professional service. There are likely some agents from your area represented there, and you can visit their websites or e-mail them. The site is also a treasure trove of info about good and bad real estate practices, as some agents are also very dismayed at the dirty tricks some of their colleages engage in. I learned a lot about the ins and outs of the business just by perusing that site.
There are some good agents out there, but like every other profession there are always those bad apples who ruin the rep of the good ones and make clients' lives miserable in the process. The best advice I can give is to get connected with an agent who has had considerable time in the business and the rep to prove it. Many of them will work in tandem with lawyers and mortgage brokers they trust, which can make the process considerably smoother all the way around.
Best of luck--as I've learned, when you hook up with the good guys, the process can be relatively headache free! And do let me know how you make out!