Wednesday, January 21, 2009
Warning: Will Robinson.
There is a very good reason that a buyer or seller should rely on their realtor's recommendation for a closing attorney. Here it is: The realtor is recommending someone who they know has the skill and competence to get the job done, usually without any bumps in the road.
Case in point: I had a closing recently where the buyer did not take my advice on an attorney. They saved $200 by going with someone, who it turns out, is related to one of the people working for the development company. Bad enough.
This Jack McCoy gave them the wrong amount to bring to close. Only the Buyer's diligence prevented this from being a mess. Then JM still ends up giving them the wrong amount by a dollar. So he takes a dollar out of his pocket to make it all right. Now I'm not a lawyer but in any closing I've ever done, if there is money going anywhere, the lawyer writes a check from the trust account.
Did I mention this guy is sitting in this big time legal firm of the seller (impressive views of Manhattan all around.) he's chewing gum. Yes chewing gum , texting and taking cell calls throughout the close. I wonder how long before something else gets screwed up?
The moral of the story: Use your realtor to bring professionals to the table or be prepared to dance with the devil.
Hoboken Real Estate
2 Bedroom /2 Bath with Parking
Median ask price $639K
Information deemed reliable but not guaranteed
Posted by Brian Murray at Wednesday, January 21, 2009