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Q: - "A real estate agent told me that my house was worth $200,000.00 and asked if I would like to sell it. It was hard to resist. I signed lots of papers including a real estate contract selling the house at $198,000.00, which agreed to make $6,000.00 in repairs. Now I have learned that the house should have sold "as is" for over $225,000.00. What should I do?"
A: - When it comes to real estate contracts, speed often leads to bad decisions and mistakes. If you are not sure what you are signing and especially if it has to do with the sale of a valuable assets, STOP. THINK. GET HELP. If you are not sure what your are signing, DON'T SIGN IT. One of the most common questions asked in my office is, "should I have signed this contract?" By the time a person realizes that he needs the help of a real estate attorney it is often too late. Most real estate appraisers will appraise your home in 7 to 10 days for about $350.00. Most real estate attorneys will review a real estate contract for about $225.00. That is a lot of information and protection for very little money. Don't let anyone rush you into spending tens of thousands of dollars. I have always found it interesting that people will do more research in buying a $20,000.00 car than they will selling a $200,000.00 house. People lose their perspective when they deal with large numbers. I saw a man pay $20,000.00 more for a home than it was worth, then get mad at the closing agent due to a $10.00 mistake. You should not approach a large transaction with the same attitude and preparation as you would a small transaction.
The hiring of a lawyer is an important decision that should not be based solely upon advertisements. Before you decide, ask us to send you free written information about our qualifications and experience.