This is based on state law.

In Maryland no lawyer is necessary, but in NY a lawyer is required.

At my closing (in MD), I had the Real Estate agent, the mortgage broker present and the last was a bank representative.

 

i am currently buying a house and this is important information as well.

So many forms from the realtor/builder. Most of it is standard so i don't know what is on the sheet that i can't see that a lawyer will have problems with.

The only thing that i have questions on is that i am buying a townhouse in one of those planned communities and it is not going to be ready until 8/9/10 so basically, i am not closing on it yet. The developer requires the downpayment.

Since my parents are interested in buying it with me as investment for themselves, they are going to put down the downpayment which is 20%.

The other day, they wanted that downpayment because they require it before anything can be finalized. is this correct? Can they require that much to be put down before anything is build? I think i need help!.. haha

 

I'm closing on Fri. And I got a real estate attorney. Mine cost me $650 but he has taken care of allot of things. I'm buying from a private seller and I rather pay a little more on my own for someone representing just me. And with the move and work, I didn't have time to take care of little things that have to be. I highly recommend one. Mine came from a family reference so start looking via that or a good friends recommendation.