Do you have to have a seperate real estate lawyer when working with an agency?

While it is not "required" to hire a real estate attorney when buying or selling real estate, it is usually advisable to do so.  For most people, their home is the largest investment they will ever make and hiring an attorney is a great way to help ensure you are receiving clear title to your most valuable asset.  When buying real estate, an attorney will typically assist you with review and negotiation of the contract, examination of the title commitment, assistance in clearing impermissible title exceptions, examination of the Deed for accuracy, calculation of closing credits and prorations, and general tax advice regarding the transaction.  When selling real estate an attorney will typically assist with many of the items listed above, but will also draft the Deed of conveyance, order title work, and prepare the P-Tax form for reporting transfer taxes in Illinois.  While a real estate agent is very helpful in the home buying/selling process, they are prohibited from offering  legal advice, including interpretation of contract terms.  Also, while a real estate agent may be acting in a dual agency role, prohibiting him/her from advising either party in any substantive way, an attorney must represent only your best interests througout the transaction.  This is general advice not commencing the attorney client relationship, nor is it protected under attorney client privilege.  Randy Green is an attorney at Meyer Capel, a Professional Corporation E-mail: rgreen@meyercapel.com Phone: (217)352-1800