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dpb

hr(bob) wrote:
....
Thanks for all the warnings, I didn't get to the position of giving
them a mortgage without having some $$$$ smarts.

Even if grant that to be so this has far less to do with the money
itself but using professional help to handle a transaction to ensure it
is executed properly and nothing is left uncovered. I still say the
S-I-L would be an idjit to enter into the agreement w/o representation
as you would be to make it w/o competent assistance. Only some of the
issues that I can foresee include title search, etc., disclosure rules
applicable in your jurisdiction, potential for hazardous material
liability, and on and on that the folks who do this routinely are well
versed in and you aren't even aware of.

That's not intended to be an aspersion against either party. If you
would consider entering into a real estate transaction on your own w/o
representation, I would only invite you to listen to Bruce Williams
evening talk show for a while to hear of the tales of woe that have
arisen owing to such penny-wise, pound-foolish actions of
others...something of this nature is even more likely to have pitfalls
for the unwary.

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