When buying or selling residential real estate, who should you hire a Texas real estate agent or a real estate lawyer? The answer is, both. I will explain why.
Whether you are a buyer, seller or real estate investor, a good real estate agent will know the sale history in the area where the property is to be sold. They can run the “comps” (i.e. compare the market prices) in the area and let the buyer or seller know the market value of the property.
The real estate agent will also know the needed information that a seller is required to disclose to a buyer. For example, a seller or a seller’s agent has no duty to disclose or release information related to whether a death by natural causes, suicide, personal injury accident, accidental wrongful death unrelated to the condition of the property occurred on the premises. Most Realtors know these rules, but what do you do when the injury or death is the result from a property condition? And what if the property condition has been repaired? Must it still be disclosed? What if there was a murder-suicide? Do you disclosure the murder but not the suicide? Often in these situations, Realtors call real estate lawyers. Brokers and Realtors often encounter real estate agent issues related to representation as well.
Good Realtors can be excellent in the negotiation process. Sometimes despite a good negotiation, the Buyer refuses to buy after entering into the contract. Other times, the Seller refuses to sell despite entering into the real estate contract. This is where a Houston real estate lawyer is pulled into the picture.
If you have questions about real estate contracts or disclosures, feel free to contact a Houston real estate lawyer in the Galleria area at 713-454-7875.
– Article By Richard Weaver