I am selling my house for cash to an investor.There is a small 15k loan on the house.This means the bank will be involved in the transaction.
The investor is doing most/all of the paperwork.
Should I hire a lawyer to check all the paper work?
Or as long as the cashiers check has the right numbers on it will I be ok?
My thinking is I DO NOT need an attorney because the bank will be watching its own interests, therefore unintentionally watching mine as well.
What do you think Yahoo's?
2007-09-12 05:17:14 · 10 answers · asked by LostKoss 1 in Business & Finance ➔ Renting & Real Estate
Get a lawyer! The bank is ONLY looking out for their own interests and that CAN conflict with YOUR interests.
Cashiers checks can be phonied and look completely legit. ALWAYS insist on a check from a LOCAL bank ONLY and ALWAYS call to verify its authenticity!
Don't waste your time with a Realtor! The will be insisting on a full commission if you involve one and that will likely cost you MORE than an attorney would. They can't give you legal advice either so would be a complete waste of time and $$$ in your case.
2007-09-12 05:32:53 · answer #1 · answered by Bostonian In MO 7 · 0⤊ 0⤋
It's not mandatory but I'd get a real estate attorney becuase of all the rules and regulations that need to be followed.
Also, you'll be paying taxes and fees as well to your state and you don't want anything to come back to haunt you later.
Call a few lawyers and get an estimate as to what they'd charge.
The bank will be watching for it's interest (money) but they won't care about you. Get a lawyer.
2007-09-12 05:21:48 · answer #2 · answered by Anonymous · 3⤊ 0⤋
lawyer selling house
2016-02-02 07:59:10 · answer #3 · answered by Donaugh 4 · 0⤊ 0⤋
You do not need a lawyer. However, I would ask a realtor to look over the contract to make sure everything looks good.
The bank is only concerned about their money and could care less about the rest of the contract.
2007-09-12 05:27:38 · answer #4 · answered by Anonymous · 0⤊ 1⤋
If you are selling your house in England then you will have to contact a solicitor as you are required to do some paper work relating to the HM land registry.
2016-03-18 04:39:20 · answer #5 · answered by Anonymous · 0⤊ 0⤋
Generally you would have a realtor to sell your home. Its not necessary though, just recommended. The buyer is the one who requires a lawyer to investigate liens on the property or other such problems, not the seller.
2007-09-12 05:26:42 · answer #6 · answered by Anonymous · 0⤊ 1⤋
Prudence should tell you to have an attorney review the documents, especially if they are prepared by the buyer. They are looking to protect their best interests and not yours. The small cost for review will pay long term dividends in peace of mind.
2007-09-12 05:22:57 · answer #7 · answered by blue 3 · 2⤊ 0⤋
You will need a good title company to handle the closing. If you understand the process and the forms, you may not need an attorney. If you examine the costs versus the possible detriment it may be worthwhile though.
2007-09-12 05:21:34 · answer #8 · answered by Anonymous · 0⤊ 0⤋
I think you answered your own question.
If you and the bank believe that all the paperwork is filled out correctly and that you have a certified check that has all the numbers right. If the bank with the loan is happy, you should be happy.
Save the $500 for an attorney and treat yourself.
2007-09-12 05:22:25 · answer #9 · answered by Squat1 5 · 0⤊ 1⤋
Pay attorney to protect your interest and yourself it is the best investment that you can make beside to make money from your real estate.
I don't pay attorney to sue somebody, that is miss use of legal service.
2007-09-12 05:33:53 · answer #10 · answered by L L 3 · 0⤊ 0⤋