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Advisable to use same buyer and seller lawyer?
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TSbarney
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Oct 7 2020, 12:31 PM, updated 6y ago
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I sold a house recently and now in the process of getting lawyers appointed. Buyer has already appointed their lawyer and i was thinking should i use the same lawyer as buyer? Only advantage i use same lawyer is to save the lawyer fee cost. If i appoint another lawyer to represent me, the fee usually is a little higher than sharing a lawyer.
Do let me know if you have experience in sharing lawyer. Thanks.
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nookie188
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Oct 7 2020, 03:24 PM
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QUOTE(barney @ Oct 7 2020, 12:31 PM) I sold a house recently and now in the process of getting lawyers appointed. Buyer has already appointed their lawyer and i was thinking should i use the same lawyer as buyer? Only advantage i use same lawyer is to save the lawyer fee cost. If i appoint another lawyer to represent me, the fee usually is a little higher than sharing a lawyer. Do let me know if you have experience in sharing lawyer. Thanks. if you understand contracts and have had experience with SPAs then for sure its "safer" - otherwise its better off getting your own lawyer (get a good one ya) to protect your interests...if you use buyer's lawyer you are not represented legally ... if you are totally greenhorn as far as SPA is concerned, then get your own representation
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TSbarney
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Oct 7 2020, 03:44 PM
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QUOTE(nookie188 @ Oct 7 2020, 03:24 PM) if you understand contracts and have had experience with SPAs then for sure its "safer" - otherwise its better off getting your own lawyer (get a good one ya) to protect your interests...if you use buyer's lawyer you are not represented legally ... if you are totally greenhorn as far as SPA is concerned, then get your own representation You have a very valid reason. I think i will go ahead and appoint a trusted lawyer to represent me.
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mini orchard
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Oct 7 2020, 07:35 PM
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QUOTE(barney @ Oct 7 2020, 12:31 PM) I sold a house recently and now in the process of getting lawyers appointed. Buyer has already appointed their lawyer and i was thinking should i use the same lawyer as buyer? Only advantage i use same lawyer is to save the lawyer fee cost. If i appoint another lawyer to represent me, the fee usually is a little higher than sharing a lawyer. Do let me know if you have experience in sharing lawyer. Thanks. Pro on sharing lawyer ... 1. Faster documentations flow 2. Minimum legal fees 3. Less negotiation on terms in the SnP. Con on sharing lawyer ... 1. Not legally represented 2. Lack of knowledge and understanding on SnP terminology can have 'biased' terms to your 'disadvantage' 3. Reputation of buyer's lawyer
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Noryume
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Oct 7 2020, 08:26 PM
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From my experience, get a different lawyer. If lawyer firm slow, nobody will push them. Bought a house from friend, we used same lawyer. Lawyer firm work slowly. We both push them giving all sort of excuses. If different lawyer, any hiccup lawyer will push the other side.
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beLIEve
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Jan 19 2025, 05:37 PM
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For future reference QUOTE Rule 6 of Bar Council Rulings - a lawyer is prohibited from representing both Purchaser and Vendor in the same transaction.
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ruben7389
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Jan 24 2025, 12:38 PM
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Ok in terms of riding on the buyers lawyer, it's not that if U choose Ur own lawyer, the lawyers fee will be slightly higher..... It will be a lot higher, in fact U will pay the same as when buying the house.
When U ride in the buyers lawyer, the lawyer is not representing both sides, it's just not legally representing you. So U just pay them for the process of settling Ur current loan with the bank which has nothing to do with Ur current buyer, so it's good to go
Have done this many times but as long as U share the draft with a family or friend who knows spa to take a look at the general terms then ok
Someone said then lawyer won't push the buyer to do the work fast, nvmd ma if done late, U get to charge the buyer 8 percent after 3 months so ok la
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