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Updated almost 2 years ago,

User Stats

59
Posts
27
Votes
Leonard Rybak
Pro Member
  • Rental Property Investor
  • Maryland
27
Votes |
59
Posts

Attorneys for Offers?

Leonard Rybak
Pro Member
  • Rental Property Investor
  • Maryland
Posted

Hi, I am currently looking for single family homes for approx $100k-150K. I make offers using a realtor and then they send me everything to sign and submit my offers to sellers. And these offers if accepted become legally binding contracts, and in turn I then have to send earnest money to a title company listed on the contract. This seems pretty simple.   

But,  a mentor of mine said I am doing it all wrong and should be using attorneys to hold my earnest deposit as well as look over these "offers" before I sign anything.  I cant manage to wrap my head around this. 

As anyone done or is currently doing this? How do I go about doing this and is it worth it for my level of property value .

Doesn't this create too much of a time gap between offers and counter offers, and basically create the chance that I will lose out on deals in a hot market. ? 

Any advice would be highly appreciated.

  • Leonard Rybak
  • Loading replies...