Using the same attorney for selling and purchasing? (RE agent, contingency, dual agency)

[kimchee]

Is this a good idea? The attorney I'm using lives close enough to both my new and current home.

I'm wondering if I can get my fees reduced if using him for both closings.

Thanks!

[manderly6]

I can't fathom why you wouldn't use the same attorney to both buy and sell if the locations work.

[MikeyKid]

Think you're confusing "dual agency" (which involves commission) with an attorney (who typically works for a fee).

From my perspective, it's actually BEST to use the same attorney for all your RE transactions.

[chet everett]

As long there are no conflicts (which generally have to be disclosed) one attorney can handle both your selling and buying. Most attorneys will not represent both sides of the same deal though...

I am not sure how they would handle the request for a reduced fee- hours are hours. I suppose thee is a tiny bit less clerical work with a "repeat client", butthatis gnerally too small to bother calculating.

[rjrcm]

Originally Posted by MikeyKid

Think you're confusing "dual agency" (which involves commission) with an attorney (who typically works for a fee).

From my perspective, it's actually BEST to use the same attorney for all your RE transactions.

As Chet alluded too, dual agency has to do with conflicts of interest (representing both buyer and seller). An RE agent can also work for a flat fee.

Should not be a problem to have the same attorney represent you for selling and purchasing as long as they have no relationship with the other party.

[MikeyKid]

Originally Posted by rjrcm

As Chet alluded too, dual agency has to do with conflicts of interest (representing both buyer and seller). An RE agent can also work for a flat fee.

Should not be a problem to have the same attorney represent you for selling and purchasing as long as they have no relationship with the other party.

A RE agent doing both sides for a flat fee? ... Seriously?

An attorney will always be paid by flat fee or the hour and short of you buying a property that the attorney has an obvious stake in (owns or could profit directly from the sale), it would be extremely rare that there's a conflict of interest.

With dual agency, there is an AUTOMATIC conflict as the same agent cannot possibly get the best buying AND selling price simultaneously. Any other details do not negate the dual agency and you have to decide if you will accept that - period.

[rjrcm]

Originally Posted by MikeyKid

A RE agent doing both sides for a flat fee? ... Seriously?

An attorney will always be paid by flat fee or the hour and short of you buying a property that the attorney has an obvious stake in (owns or could profit directly from the sale), it would be extremely rare that there's a conflict of interest.

With dual agency, there is an AUTOMATIC conflict as the same agent cannot possibly get the best buying AND selling price simultaneously. Any other details do not negate the dual agency and you have to decide if you will accept that - period.

I think you misunderstood my point. I do not support dual agency, so we agree.

I was just making a comment that a Realtor can work for a flat fee. My point was that flat fees and/or commissions have nothing to do with defining dual agency.

Also, an attorney can work on a contingency basis, although not usually in this type of situation.

[kimchee]

No dual agency here, I just want to use the same attorney to close on my current home and purchase my new home.

Sounds like it makes sense to do so.

Thanks all.