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Do I need an agent for a land contract?

Looking into land contracts and don't know how to handle them. Can an agent help or do I need a lawyer?
Asked By Collins Y. | Tylertown, MS | 464 views | Buying | 2 years ago
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Novice
3 Answers
Pamela Dostilio

Coldwell Banker Realty

(28)

That is a very good question. Every state is different regarding real estate transactions. In my state, Connecticut, we use lawyers for closings. I would suggest finding out if your state does closings with attorneys or title companies. If the land is listed with a realtor, the seller has agreed to pay a commission at closing you can have a real estate agent represent you in the transaction. Your realtor can advise you regarding how to purchase with a marketable title and title search (possibly title state) to clearly show if any encumbrances, wet lands, restrictions, etc... Having an attorney look over the contract of sale is always a good idea even if you are in a title state.
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Novice
1 Answer
Rebecca Csiszar

Rebecca Csiszar Real Estate Broker

(1)

Not every state allows land contract financing. This is just one of several reasons why you would need to consult an attorney before entering an agreement to purchase this property in this way. If the property is listed with a realtor you really want to work with a realtor yourself. When a property is listed the owner typically covers your agent costs through his marketing fee. Havving your own agent will help you with all these details

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