Buyer & Seller Legal Protection Plan
For most buyers and sellers, real estate transactions represent the biggest financial and emotional investments of their lives. Because real estate agents and brokers are not allowed to provide legal advice, buyers and sellers often feel worried and confused about the sales process, tax ramifications, and other questions that attorneys can answer.
The Buyer and Seller Legal Protection Plan fills the void by offering affordable access to experienced attorneys who can answer legal questions throughout the transaction. With the plan, buyers and sellers receive:
- Up to 30 minutes of telephone consultation per nondispute, transactional legal matter with a licensed real estate attorney. There is no limit on the number of matters eligible for consults, as long as questions pertain to different legal concerns and are related to the property listed on the protection plan documents.
- Up to ten pages of documents reviewed by the attorney.
- Up to 25% rate reduction off the normal and customary fees for any additional services that the buyer or seller requests from the participating attorney.
The Buyer & Seller Legal Protection Plan is an affordable program with a modest fee paid at the close of escrow. There are no prepaid fees. If the sale fails to close escrow for any reason, there is no charge for any services provided.
Lifetime Dispute Resolution Services After the Close of Escrow
Disputes can arise after escrow closes, leaving injured parties to feel that their only recourse is to hire an attorney and file a lawsuit. At RERM, we help buyers and sellers avoid the expensive and time-consuming hassle of pursuing legal action by providing lifetime mediation services after escrow closes. Services covered under the plan include:
- Self-help guidelines for communicating your claim to the adverse party, including sample demand letters.
- Informal mediation services to bring about early resolution of most disputes—with a success rate above 96%.
- Help with facilitating mediations to comply with the mediation clause found in most real estate purchase agreements.
- Information about the small claims court system when other remedies have not resolved the dispute.
Dispute resolution services are limited to matters involving buyers, sellers, and other third parties involved in the property transaction covered by the protection plan agreement. We provide the services through our staff of professional mediators who are not attorneys.
Buying or selling a home can be scary, even with the support of an experienced real estate professional. The Buyer & Seller Legal Protection Plan helps increase buyer and seller confidence, leading to smoother transactions for everyone involved.
Who pays for the plan?
The buyer, seller, or real estate agent can pay the plan’s economical fee at the close of escrow. Agents who offer the plan as an included service find that it gives them a strong marketing edge over their competition.
Buyer/Seller Legal Protection Program