DEAR MR. MELTZER: Our house was on the market for about six weeks when the broker found a buyer willing to meet our price. Now the broker has been after us to sign the agreement and "get things going."
Believe me, I am more anxious than he is to "get things going." But I'm wondering whether I should consult my lawyer before I sign anything. I know it will cost me extra money, and my wife asks, "Why pay the broker and the lawyer?"
maybe I'm wrong, but I feel funny about signing anything without some expert advice. What do you think?
ANSWER: I hope your wife won't hold a grudge against me, but you are right and she is wrong. You should consult a real estate attorney before you sign an acceptance to an offer. The moment the seller's acceptance is communicated to the buyer, a binding contract is formed.
There are so many details invoved that it only makes sense that a lawyer experienced in real estate should represent you.
DEAR MR. MELTZER: My wife and I have accumulated a healthy sum of money through the years. Now we want to invest. What is your opinion of buying land?
ANSWER: Though the demand for land has been growing constantly, available land supply is consistently diminishing. Well located, good land increases in value, and land in the path of growth is a real winner.
Land that is not altogether impossible by way of poor location or bad condition will continue to increase in value. Suburban land surrounding the sprawling metropolitian areas has been increasing in value more quickly than any other kind of real estate.
Bernard C. Meltzer is a realtor, engineer and appraiser. His address: Suit 900, 112 S. 16th St., Philadelphia 19102.