Hello and Welcome to You Be All You Are TV.
I’m your host Brad Harmon. Today my guest is Brant Stevens with Brant L Stevens Law
in Spokane Washington. Brant Welcome to the broadcast.
Thank You Brad. We appreciate you squeezing a little time
out of your busy day to join us today. I grateful you’re having me on your show.
We appreciate you making the time to join us. Now I understand that at your law office
you help people with real estate law. Now I have a question is it important to have
an attorney on your side when you’re buying or selling your home or can you just do it
all with a Realtor? Well, you can do it all with a Realtor in
the state of Washington. The tittle companies offer what are called Limited Practicing Officers
or LPO, who are licensed to perform real-estate closings.
Generally however their rates are higher than what our office charges and my office has
an LPO that works here in our office her name is Dori Kjos and she’s been a LPO for eight
years now and been involved real-estate closings since 1991, I think. For a long time.
And so, you can go through a title company for your closing, however, we are a little
bit cheaper as far as our costs go and we offer more flexibility in where we can do
the closing. We can go to the seller’s home or the buyer’s home to do the closings.
We can do it on weekends, we can do it in the evenings. So there are some advantages
to going through our attorney’s office to do the closing on the sale of your home. As
well as you get the eyes of an attorney to look through the closing, make sure the title
is good and I have an extensive background in real estate closings and frankly I have
more of a sensitivity to things that can go wrong in a real-estate closing than a lot
of title companies do. They just simply… they have a closing title
train. Essentially, you get put on the train, you get run through the system and so I’d
like to think using an attorney’s office you get a little bit more customer oriented
service and you get a little bit more of a trained eye to take a look at some of the
more sensitive issues that maybe in the closing of your home
I think that would be the most valuable asset of running it though a attorney’s office
like your is that get that extra look. You’re not just part of a process, the closing at
a title company is a process, their just filling out the paperwork, but you actually take the
time to review it with best interest of your client in mind.
That’s right Brad, That’s correct. And you know if there ends up being a problem.
If there is a problem at the title company they have insurance to guarantee that everything
and that everybody gets compensated and attorneys have malpractice insurance and so there are
some advantages to of going through an attorney’s office to do the closing on your home.
That’s good to know. So what if you want to do it without a realtor and you want to do
a For-Sale-By-Owner. Is it advantageous to have an attorney on your team? Realtors in the state of Washington will generally
charge 6 percent, that’s split between the buyer and the seller. And on a $200,000 home
that’s $12,000. And that’s a significant amount of money when you’re going to sell
your home. And in light of the banking and mortgage industry at this point and some of
the loans that have been made in the past, a lot of the time the seller just don’t
have that kind of margin to hire a real estate agent to sell their home for them. And so
with the onset of the internet and some of the available options for marketing your home
more people have gone towards doing a For-Sale-By-Owner to try to sale their home. Especially if you
have a home that say on a busy street or it in a housing development. Sometimes it’s
better to use a realtor if you have somewhat of a specialty home. Say a farm on acreage
or where you really need that advertisement and the multiple listing service that’s
available to realtors, but with a traditional home, it has gotten to a point that it is
almost as easy to sell your home with some of these other methods as it is to sell it
with a Realtor and you save yourself 6% commission. And where our office essentially steps in
and prepares the purchase and sell agreement for the home owner, does the seller disclosure
that are required by law in the state of Washington. Then we proceed to order title insurance for
the home owner and we do a lot of those things that a realtor might help you with, but we
charge on a $200,000 home we would charge $6-700 to do your closing for you, where a
realtor would charge you $10-12,000 for their commission and on top then paying closure
to do the closing for you. It can be very advantageous to do a For-Sale-By-Owner or
what is called a FSBO Then use an attorney’s office to help facilitate that closing.
That’s good to know. So if you’re one of those people who are a little bit tight on
your house because it hasn’t appreciated very much with the cost of loans and things that
are happening now days. It may be to your best interest to sell it as a For-Sale-By-Owner
and retain a law office like yourself than go through the traditional real estate sales
method. That’s right! so if you are doing a for sale
by owner just call my office and we’ll have the purchase and sell agreement done for you
that’s the first step that need to happen and then everything flows from there. So that
what I would advise someone that’s doing a For-Sale-By-Owner on their home.
Great thank you for sharing that with us. Now in today market sometimes it’s difficult
and it’s time to refinance your home to get a lower mortgage rate or to avoid that adjustable
rate mortgage and sometimes it’s hard to get those through. Is it possible for you and
your real estate back ground and as an attorney to help them with a refinance of their homes.
Yes, and we do offer refinance closings through my office and if you’re a home owner and
interested in refinancing your home call the office we’ll put you in touch with a number
of lenders that we use, some loan officers that we use and that have been very helpful
with home owners in the past on getting them set up to do a refinance on their home and
again some of the interest rates on homes have been very high in the past and the interest
rates that are currently available are as low as 3-4% so that translates into considerable
savings for a home owner even if your only saving a couple hundred dollars a month over
a year that s $2400 a year and then over time turns into a considerable savings. So if you’re
thinking about refinancing your home again call my office we have some very good lenders
that we work with and we set up everything for you and again we can come to your house
to do the refinance if your busy working if you have kids and so we offer that flexibility
with traveling and time and making sure that the refinance is something you can get accomplished.
Excellent it’s good to know that is available. So it sound like that if you have real estate
and you need a full service real estate attorney and it sound like your law office can pretty
much help them with everything that they need. That’s right Brad,
Brant we very much appreciate you making the time to join us on the program today.
You’re welcome Brad and thanks for having me.
You’re welcome and thank you for tuning into You Be All You Are TV I hope we’ll see you
soon on another broadcast.