Buying land

yourchoice · 03-13-2010, 08:51 AM

As stated, the seller's side typically pays the commission to the buyer's agent. I would recommend hiring an agent unless you know the agent who owns the property is also the broker of record for their agency. If not, the seller will only have so much control when it comes to how much you can save. If yes then I may recommend hiring a real estate attorney for your side if you can negotiate the price down based on the absense of a buyer's agent. Regardless, you may want to hire an attorney anyway.

If you do hire an attorney, hire him/her early, for contract review. It amazes me how many people hire an attorney for settlement only when everything (charges) have already been decided in the contract. Now is the time to negotiate those things, not at the table.

Basically, I suggest representation of some sort unless you're experienced in land development.

Good luck!

03-13-2010, 08:51 AM	#4
yourchoice Down the stretch Join Date: Oct 2008 First Name: Joel Location: South Jersey Posts: 4,102 Trading: (36)	Re: Buying land As stated, the seller's side typically pays the commission to the buyer's agent. I would recommend hiring an agent unless you know the agent who owns the property is also the broker of record for their agency. If not, the seller will only have so much control when it comes to how much you can save. If yes then I may recommend hiring a real estate attorney for your side if you can negotiate the price down based on the absense of a buyer's agent. Regardless, you may want to hire an attorney anyway. If you do hire an attorney, hire him/her early, for contract review. It amazes me how many people hire an attorney for settlement only when everything (charges) have already been decided in the contract. Now is the time to negotiate those things, not at the table. Basically, I suggest representation of some sort unless you're experienced in land development. Good luck!