REAL ESTATE PURCHASE/SALE FAQ
Q: Why do I need an attorney for my real estate sale? Can't my real estate broker handle it?
A: Most real estate brokers in Colorado act as "transaction brokers" in the sale of your property. That means that they are not strictly acting on your behalf, but are also acting on behalf of all parties to the transaction. In addition, your broker most likely does not have formal legal training.
You should have a lawyer representing you in a real estate sale or purchase for several reasons: (1) it is good practice to have an attorney review all documents that have legal consequences, if for no other reason than to explain to you what you're getting into. These legal documents would include the purchase contract, loan documents, and homeowner association declarations, by-laws and rules; (2) you should have someone "on your side" to attempt to negotiate points that are important to you and to point out to you things that should be of concern to you; and (3) non-lawyer real estate brokers are not allowed to draft or change legal documents on behalf of others, except to fill in the blanks on Colorado Real Estate Commission approved forms.
We have many years' experience in representing buyers and sellers in "simple" and "complex" real estate transactions. Call us to help you in your upcoming purchase or sale of real estate.