Did you have a real estate lawyer when you started signing documents and for the closing process? I'm not looking to buy for 4 months so i have some time to decide and stuff.

 

We did not, but I remember the process as being bewildering. If you do no trust the agent/title company, it may be worth hiring one just for your peace of mind. I can't imagine it would cost that much.

Good luck

 

Im a part-time real estate agent, and I have never worked with a client who did not have a lawyer - highly recommended, not only for closing, but for attorney review and to communicate to the seller's attorney as well.

 

Another option, if you're buying new, is to use a third-party broker, like New Home Concepts. They help make things go smoothly for BOTH PARTIES and their commission/fees are paid by the homebuilder...

If nothing else, it may be a good place to start.

 

I used the bank's attorney the first time I bought a home.

While the bank says that our interests have merged, technically, the attorney has the interest of the person paying them in mind.

Now that I am looking at buying again, I am definitely going to get my own attorney to look out for my own interests. I do recall the first time that the bank's attorneys added clauses that I didn't know about to protect the owner from certain situations...I'm quite sure my own attorney can do just as much and probably more.

$1500 (or whatever it is) is short money when it comes to protecting a quarter-million-plus investment (at least that's what beaters are in these parts ) Keep in mind that the job of a good attorney is not just to explain the documents, it's also to assist you with obligations under the law that you may not otherwise be familiar with.

 

my real estate agent was also my attorney. I guess I'm just lucky

 

I would recommend it, usually only about $300-$500, they don't do much work but if things start to get ugly you will be thankful...they can also explain to you all of the items...otherwise try to use a standardized contract.

PS- part time broker

 

It is not AS important if you are buying a new house. If you are buying existing contrustion from a private seller, then it is a MUST. You can get away without one and usually be OK on new construction, but spending $300-$500 on a good lawyer to protect your $100,000+ investment is good money.

 

I would almost recommend a lawyer on a new house moreso than on an existing home, at least to make sure what the developers warranties are...usually existing home sales are purchased "as-is" while new homes have certain warranties...many horror stories are from new homes where the developer did a poor job and walks away from any obligations to repair/replace poor craftsmanship.

If you are worried about $300, it is probably not a good idea to buy!

Don't forget seller's attorneys can sometimes be pricks that you don't want to deal with directly.

 

I have never bought a house, but have done commercial leasing and would reccommend a lawyer whenever a contract with that many pages and small font is involved. They try to screw you so many different ways with the dumbest clauses.