Legal Question in Real Estate Law in Georgia
Can home buyer change closing attorney without seller's agreement?
I recently signed a contract to buy my first home. The seller chose a closing firm although I am paying all the closing cost. My agent told me that it doesn't matter who closes the deal because the attorney is representing the lender anyway. Now I am applying for a loan, and the loan broker recommended an attorney that works well with her and charges a few hundred dollars less. We drafted an amendment to change the closing attorney but the seller refused to comply. Neither will the original closing firm match the lower fees. My agent told me that the seller has a higher backup offer and wants to drive me out of the contract. Do I have the right to hire my own closing attorney in this case? The clause on the contract said that the buyer can change attorney if the above said attorney is not on lender's approval list, but my loan broker told me that the lender doesn't care.
Thanks for answering my questions.
1 Answer from Attorneys
Re: Can home buyer change closing attorney without seller's agreement?
The lender does not care as long as the attorney is on their list. Sure, you have an argument over the fees, but the seller is probably giving the business to his/her friend just as your broker is trying to send business to his/her friend. If the lender does not care and the seller insists, you can always threaten to sue over the closing attorney but how far do you want to take it? The reality is that the difference in closing costs is likely the first hour or two of a consultation with a lawyer if the deal falls through. A TRO to stop a sale to the other potential buyer is, very conservatively, $3,000. Better to do what is best for you, whatever that may be, rather than get into a contest in which only lawyers win.
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