What happens if a repair is needed just prior to settlement? Will the settlement attorney act as mediator if there is a dispute about a repair? My clients usually ask me these questions just prior to the walk-thru inspection.

Ninety-nine percent of the time the settlement attorney does not represent either the buyer or seller at settlement. The attorney is often chosen by the buyer, however there is no fiduciary relationship unless the buyer or seller has a written agreement for representation. Do not expect the attorney to take sides in regards to disputes over last minute repair items. An attorney will try to mediate and interpret their contract; however, in gray areas do not expect a strong advocate. Many items fall into this gray area.

An experienced agent is an advocate for their client and will negotiate on their behalf during settlement. A real estate agent should have good knowledge of repair estimates and be able to have experienced tradespersons give estimates within a few hours. This is the time period that our buyer or seller's agent can save you hundreds—sometimes thousands— of dollars. The settlement attorney can hold funds in escrow until repairs are made.