Q: I am considering purchasing a home in Montrose CO. The sellers agent told us he can represent both seller and purchaser
Can he do this as he is the sellers agent. Also with a home inspection there have been problems arising regarding disclosures from seller ect. Do I need a real estate lawyer and should I use one referred by sellers broker?
A:
Brokers can handle a sale for both the buyer and seller, but there are limitations. Specifically, the broker is an agent of the seller and cannot (and should not) provide any advice or opinions to the buyer. In short, the broker should not assess whether the offer is a "good deal" or other provide general opinions on the home or the deal.
Disclosures are required regardless of who the broker is or is not representing. However, it is generally a warning sign if an inspection (which are not that through) discovers undisclosed defects. It is your call on whether the disclosure problem should kill the deal...
Hiring a real estate attorney is probably not necessary unless the property is very large, has a commercial/agricultural application or you suspect serious violations by the seller/broker. You can hire an attorney to review the contracts--most buyers use the broker's standard forms (most of which cannot be negotiated).
A broker can provide referrals. I, personally, am always suspect when a person who has not legal obligation of loyalty to me provides any assistance or advice (i.e. I personally would NOT utilize the recommendations). That said, this is a personal choice--you can rely on a referral.
Justia Ask a Lawyer is a forum for consumers to get answers to basic legal questions. Any information sent through Justia Ask a Lawyer is not secure and is done so on a non-confidential basis only.
The use of this website to ask questions or receive answers does not create an attorney–client relationship between you and Justia, or between you and any attorney who receives your information or responds to your questions, nor is it intended to create such a relationship. Additionally, no responses on this forum constitute legal advice, which must be tailored to the specific circumstances of each case. You should not act upon information provided in Justia Ask a Lawyer without seeking professional counsel from an attorney admitted or authorized to practice in your jurisdiction. Justia assumes no responsibility to any person who relies on information contained on or received through this site and disclaims all liability in respect to such information.
Justia cannot guarantee that the information on this website (including any legal information provided by an attorney through this service) is accurate, complete, or up-to-date. While we intend to make every attempt to keep the information on this site current, the owners of and contributors to this site make no claims, promises or guarantees about the accuracy, completeness or adequacy of the information contained in or linked to from this site.
