Thursday, July 23, 2009

I know he's an attorney and I know he's your uncle... but DON'T do it!

So here's the scene... The buyers want to buy a house in Albany, NY. They are using a local Realtor and that's all cool. When they find the house that fits they tell the Realtor their uncle, who is an attorney from back home where they grew up, will write up the offer. Now, around these parts, the real estate agents write up the offers. In some parts of the state and the country, it is otherwise, but in the Capital Region it's the agents that do the contract.

What does the agent do? It is very difficult to tell a client that their uncle, who is all well meaning and good, that this is not a good idea. Especially if this uncle is planning on using the agreement that is customarily used in his area. It confuses people. In fact it often has features and clauses that the local Realtors have never seen.

What do people do when they see something they are are not familiar with? They back away. We, obviously don't want that reaction from the sellers, but sometimes we can't talk them off the wall.

Simple approach: When in Rome... do as the Romans do. Simpler approach: Use a local attorney familiar with the ins and outs and the idiosyncrasies of the area you're purchasing in... It will be in your best interest in the long run!

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