Updated about 5 years ago on . Most recent reply
Short sale purchase question
I'm currently in the process of purchasing my first VA short sale. It's my first short sale in general. I'm using the same realtor as the seller and they just asked if I'd be using a lawyer, or if I'd just be using the seller's lawyer. Does it matter? I'm a bit confused with this aspect of these deals and if it's important to procure my own lawyer or if it even matters? I'd appreciate any help I can get.
Thanks!
Most Popular Reply
Congrats Nate!! I would definitely go with hiring my own attorney in this situation because of the Dual Agency. In most transactions, buyers tend to have a Real Estate Agent represent them. In this scenario, the Agent is representing the seller and you at the same time which means he does not have a fiduciary duty to either of you. I'll be sending you a dm!