What documents do attorneys sign?

Question

Newbie here lol im trying to learn creative financing and im confused as to which documents attorneys sign?

For example:

Purchase and Sales agreement?

Lease Option Agreement?

Seller’s Disclosures?

Subject To Contract?

Power of Attorney?

Denzel Domingo · Answer

@David David

Ohhh i see ok it makes sense now! Thank you!

David M. · Answer

@Denzel Domingo

When it’s time to close the deal, YOU sign.   Attorney draft the documents, coordinate, and make sure the legalities are covered (in your favor hopefully) so that you are signing for what you wanted.

Denzel Domingo · Answer

@Bill Brandt

So if the attorneys dont sign any of those documents what do they sign when it’s time to close a deal?

Sam Shueh · Answer

You need a skilled real estate lawyer to oversea the transactions and completed in a manner that is done right for that county. It should be a complete package fee not hourly fee.

Mike McCarthy · Answer

Typically attorneys don't sign any documents themselves.  You still need to sign them since you're the one on the hook for them. A lawyer can review and make recommendations on any contractual document - as well as write letters referencing the documents you mention.  But unless you give someone Power of Attorney (PoA), the lawyer won't actually sign them.  And even if you do give PoA, they'll only sign what you've reviewed and approved them to sign.

Theresa Harris · Answer

If you are looking to buy a property where you are taking over a mortgage, I would definitely get a lawyer to look over the documents.  It might cost a few hundred dollars, but if you do it wrong, you've lost a lot more than that.

Bill B. · Answer

Probably depends on your market. We don’t use lawyers in NV or MN, title companies do that work.

If you’re going to try to control properties with subject to deals remember to have a plan to pay off the mortgage if the mortgage company finds out. They CAN call the whole balance due when they find out. They PROBABLY won’t, but if interest rates start to climb they will have more incentive to do it. We’ve been in decline rates for so long most investors here haven’t seen it happen because it was in the banks interest to accept the higher rates.

Denzel Domingo · Answer

@Kyle J.

Im trying to do subject to, lease options and owner financing deals.

So if i take over someone’s mortgage with a subject to contract, i don’t need an attorney’s signature?

Kyle J. · Answer

@Denzel Domingo What are you trying to do? Attorneys don’t typically sign any of those in my experience.