With buyer lined up, who needs an agent?

Attorney can do job for less than 6%
Published on Aug 18, 2008

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by CareyBot

DEAR BENNY: I plan to sell my house and have already found a buyer and believe we can come to agreeable terms. Do I need a real estate agent or should I just retain an attorney? --Katherine

DEAR KATHERINE: I know that the real estate industry will send me letters objecting to my response, but because you have already found a buyer, I see no reason to spend 6 percent, 4 percent or even 3 percent of the sales price on a real estate commission. Any real estate attorney can assist you with the negotiations with your potential buyer, and can easily -- and clearly at a much lower cost -- prepare the purchase and sales contract. The attorney can also give you guidance throughout the entire process.