Buying & Selling Real Estate in Washington
Buying or selling a single family home is for most people the biggest financial transaction you will ever make. The process can be complicated, but it doesn’t have to be with the right professional to guide you through the process.
When you hire Symmes Law Group, you work with us as an attorney with access to real estate brokers. It’s like getting two professionals for the price of one, and at a significant savings over traditional real estate brokers! As attorneys we provide complete legal representation that you can count on in navigating through your real estate transaction and if need be, we have access to broker have access to broker tools a traditional real estate agent has at their disposal.
Using an attorney to be your real estate broker is not for everyone. Our services or best suited to buyers who are tech savvy and able to browse and attend open houses on their own and then would like to make an offer, and sellers that are independent and need assistance in listing a property, negotiating a sales price which includes preparing legal documents, and walking them through the process until the sale is closed.
For Real Estate Buyers
Today’s real estate buyers are just like you. They are more educated, more involved and more hands on than ever before. Often browsing online websites such as Redfin, Zillow and Trulia to find the perfect home and only need assistance with submitting an offer and if successful closing the transaction. Work with Symmes Law Group and you get trusted legal advice from an attorney that traditional agents can’t offer at a significant discount to the standard real estate agent fee’s that can be credited right back to your home purchase.
In most real estate transactions, the seller pays a purchasing agent 3% of the home sales price. So for the average home in the Seattle area worth $700,000 that would be $21,000. With Symmes Law Group acting as your agent/attorney, at closing we would rebate you $10,500 that you could use on furnishing your new home! This is a fee of only 1.5%!
Additionally, at the time you retain Symmes Law Group you would pay a non-refundable flat fee of $500 which covers 2 offer submissions and counsel over the buying process. If additional offer submissions are requested those would be billed at a flat rate of $250. These fees would be applied to the overall agent commission fee’s paid, so your rebate could potentially be much more than 1.5% if several offers are submitted.
Symmes Law Group can also advise you on qualifying for a mortgage loan or refinance and what a lender may be looking for in terms of your credit scores.
Purchasing Real Estate at the Foreclosure Auction
Symmes Law Group also has access to purchasing homes at the local real estate auctions. In King, Pierce and Snohomish counties competition for these properties can be fierce and you are going up against big banks and investors with deep pockets, making it very difficult to win a property at auction on you own. With our connections we can help you secure the property you want and come up with a game plan so you don’t end up spending too much.
There is a 3% of the sales price fee for assisting you with the foreclosure auction process. Buying a property at the auction can result in significant savings on the right property, potentially 30%, however you may have other issues to deal with such as liens, eviction, or condition of the property as auction properties sell sight unseen. This is where having a great lawyer comes into play to assist you with the transaction.
For Real Estate Sellers
In a typical real estate transaction, a buyer’s agent earns 3% commission and a sellers agent earns 3% commission for a total of 6% of the total home sales price, all of which is typically paid by the seller. That’s a big price to pay just for selling your home!
You can choose to sell your home the traditional way, through the MLS where you will need to pay a buyer and sellers agent the typical 3% commission each or you can choose to conduct a For Sale By Owner (FSBO) and submit your property through various online directories to be picked up online to avoid having to pay the traditional MLS fee’s.
If you go the FSBO route you can negotiate how much you want to pay a buyer’s agent which can be less than 3%. Symmes Law Group charges a flat fee of 1.5% of the total transaction which could result in a total savings of 4.5% of the total transaction if you are able to negotiate that the buyers have to pay their own agent. On the average Seattle home worth $700,000 that is a savings of $31,500!
For additional information be sure to check out our Real Estate FAQ