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 Is lawyer really necessary?

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TSGameFr3ak
post Oct 30 2017, 06:59 PM, updated 9y ago

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Hi,

I hope I don't take too much of your time for some beginner questions about selling off a property.

I read around and the general consensus is that I should be engaging my own lawyer but I wanted some other opinion before I spend 6k.

So I sold my unit through an agent which he introduced me to a lawyer that offers to represent me.

My property value is 465k. According to the agent, the fee of the buyer's lawyer is higher. Is this even possible? I thought if I use buyer's lawyer, I can save the SnP legal fees right?

Lastly, what do you think about the quoted price? RM6,000 (after discount) for a RM465,000 selling price? Do I even need a lawyer to represent me?

Thank you very much!
TSGameFr3ak
post Oct 30 2017, 07:22 PM

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QUOTE(nookie188 @ Oct 30 2017, 07:18 PM)
Actually seller don't want to be represented by a lawyer it can be done but buyer don't have this option.

If you don't have a lawyer, the buyer's lawyer will send the SPA draft for you to check and amend wherever necessary so its also essential that you know what to look for
in the agreement so that you don't get caught by "non standard" clauses that may be inserted by the seller's lawyer.

Bottom line is that if you are not familiar with terms of SPA, it will be advisable to get your own lawyer to ensure that your rights are protected.

Does not matter at what price you sell it has nothing to do with whether you should get a lawyer or not to represent you.

PS btw,  I would advise  you NOT to use the lawyer that the agent has recommended as agent gets a
commission for introducing you to the lawyer. More often than not, the lawyers that they intro are lousy so you are better off asking around
your friends or family to intro you to a good lawyer.
*
Thanks. If that's the case then I might just go and get a lawyer since I'm not familiar at all. Do you have anyone to recommend?

 

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