That does not accurately represent the value of the land in relation to the value of your property.

I might even put in a clause that the seller represents the house is capable of being financed through conventional financing.If the seller wants it paid off quickly why is he carrying a contract?

Find a real estate agent who will pull comps for you (either for a fee or in return for representing you on deals);2.

Is this true, or should I have someone representing my interest, and if so who?

If I could represent myself I would rather do that.

Those how you avoid (usually) doing unlicensed brokering.2) You deal with both sides of the transaction where RE agents usually deal with either the buyer or seller only along with another agent who's representing the other side.3) You don't get to use the MLS.

This lawyer later says that she wasn't representing the seller, she was only paid a fee to write a contract.

I do have one question though you stated "But, in reality, if you don't have an agent on your side, the listing agent will *likely* get 6% of the sales price ($40K)"If I don't have a buyers agent represent me how does the agent get the extra 3% for 6% commission?

If so, you can have the buyer fund the 5% deposit for the winning bid, 'represent' the buyer at the courthouse, filing the paperwork with the trustee as a broker, schedule with trustee and an attorney and collect your commission at closing.

That realtor represents your interest whereas the listing agent is looking out for his own pockets.