2007-03-06 05:02:25 · 8 answers · asked by Anonymous in Business & Finance ➔ Renting & Real Estate
Yes, there are a ton of legal docs you need to sign better to have a lawyer there with you for review. At the very least, you should have a lawyer review the P&S
2007-03-06 05:07:47 · answer #1 · answered by CupCake 5 · 1⤊ 0⤋
The answer to your question depends on where you live. At least in New York, you would be a fool not to have an attorney represent you in connection with the purchase of a house. There are so many issues that may exist that you probably don't even realize. I could start listing them here but your head would be spinning. Anyone who tells you that you don't need a real estate attorney at least in NY, simply doesn't know what they are talking about. The purchase of a home is typically the biggest purchase a person will make in their life. This is not a place where you want to "save a few bucks". Real estate brokers typically are agents for the Seller - NOT the buyer. Their concern is to make sure the deal goes through so they get their commission. They really don't care about protecting your interests as the buyer. In fact, I have, unfortunately, been involved in several cases where they tell "half-truths" in order to get the deal done.
2007-03-06 05:11:10 · answer #2 · answered by Anonymous · 0⤊ 0⤋
I would never even think about buying any kind of property without an attorney. The reason is to make sure you are not getting ripped off. Some morgage companys will require you to have an attorney. Even if you are paying for the house with cash, I would definately have an attorney look over any paperwork before you sign, just in case something is wrong with any of the paperwork or closing costs etc.
Good luck on your purchase.
2007-03-06 05:09:36 · answer #3 · answered by Anonymous · 1⤊ 0⤋
There is no need to hire an attorney if you go through a good real estate broker. I've purchased two houses and never had any problems that required an attorney's services. I would be leary if purchasing through an individual though.
2007-03-06 05:11:14 · answer #4 · answered by Debbie 4 · 0⤊ 0⤋
What you need is the expertise of a REALTOR® . That's what we do for a living. We represent buyers and sellers in their sales process from start to finish and sometimes beyond. If you hire an attorney you have to pay them. If you as a buyer hire a realtor, payment or commission comes from the seller.
Real estate transactions involve one of the biggest financial investments most people experience in their lifetime. So hire a REALTOR® .
2007-03-06 06:55:12 · answer #5 · answered by loladrewblue 4 · 0⤊ 0⤋
In the US? you don't need an attorney or legal representation; that's why you have real estate and title/escrow agents. In other countries, I'm not familiar.
2007-03-06 05:05:45 · answer #6 · answered by Enchanted 7 · 0⤊ 0⤋
It certainly doesnt hurt, but its not needed at all. Unless you have alot of money to throw around and are getting involved in a very complex deal.
2007-03-06 05:06:53 · answer #7 · answered by Anonymous · 0⤊ 0⤋
In Alberta Canada you have to have a lawyer to register you on title, so here yes it is wise.
2007-03-06 05:31:25 · answer #8 · answered by Anonymous · 0⤊ 0⤋