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Lawyer representing both buyer and mortgage bank?

Started by brillopad
about 11 years ago
Posts: 2
Member since: Sep 2014
Discussion about
My lawyer wants to represent both me and my mortgage lender. Is this normal?
Response by uptown_joe
about 11 years ago
Posts: 293
Member since: Dec 2011

No. And you have potentially diverging interests. And the mortgage lender (assuming it's a decent-sized bank) must have plenty of other attorneys on its panel who could handle your closing. And should there be anything later found imperfect about the transaction the first accusation could be that your attorney wasn't representing one of the parties properly. Don't do it, there's no need and no benefit to you.

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Response by crescent22
about 11 years ago
Posts: 953
Member since: Apr 2008

If you have no problem qualifying, go for it and get yourself a discount on your fee because your lawyer was able to source extra fees for himself.

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