My Realtor Says I Need A Lawyer?

Question

Jean Bolger · Answer

Account Closed I have only had lawyers present at one closing here in Colorado- and that was because it was a couple that was splitting up. That table was crowded... and frosty!

Wayne Brooks · Answer

Account Closed Yeah, apparently the Bar has good lobbyist there as there is a mandatory 3 day "attorney review period"/get out of jail free card, I believe.  Attorneys here are generally only involved since they usually own the title co.

Account Closed · Answer

OK, so I just learned from this. I'm from New York and the signing of the contract with the seller was handled by lawyers (mine and the seller's) and everything after that. The closing table gets pretty crowded in New York.

Account Closed · Answer

@Sal DeJulio

Typically the realtor will get you to the point of making or accepting an offer. When it comes to signing the actual contract and everything thereafter right up until closing, you use a lawyer. I'd be interested to know if it was possible to do it without a lawyer. But even if it were possible though, having a lawyer is not a bad thing. The other side is likely going to have a lawyer and you need to protect yourself.

Chad U. · Answer

For your 1st purchase, it is highly advisable to get an attorney to review everything for you for piece of mind, but is not mandatory in FL. Once you have a few closings under your belt, it is easy to do on your own and rely on the Title Co offering title insurance.  And always get an owner's policy as per Wayne's advice, especially if you plan on holding for any length of time. If there is ever an HOA, it's best to have the CC&R reviewed by an attorney though.

Mark Forest · Answer

I have bought 12 houses and have never had an attorney present.  Tell your Realtor to do her job or get another one.

Michael J. · Answer

Buying a house is one of the biggest purchases you will make in your entire life. As such, there are contracts involved and a ton of paperwork to sign. This is no simple task and should not be taken lightly as if you were buying a car.

Aside from having an inspection done, and the title company present, an attorney is essential to the process.

Wayne Brooks · Answer

Well, it depends on your comfort level.  Your loan will be standard, with very little wiggle room.  Your closing will be with a title co., which may or may not be attorney owned.  9 times out of ten you have no need for an attorney in a simple house purchase.  Not sure if your agent is being overly cautious/CYA, or what.  Being that you're getting a conventional loan, acceptable title insurance will be required, and provided.  Do choose to pay for an owner's policy in addition to your lender's policy.  It would only be $300-$500 to have your own attorney review everything though.

Jean Bolger · Answer

There's no one answer to this as it varies from state to state. In some places, especially where there are highly standardized state contracts and forms, closings are done by title companies or even by brokers themselves. Other places it's common to have a lawyer handle it.

Kevin Hamblin · Answer

I would call around to other Realtors and ask if it is typical in Florida to have an attorney.  I am with you, I would not want to pay for an attorney if I didn't have to.  Maybe she is talking about a closing attorney.  Her life must be hell if she has to close with an attorney every time.

My Realtor Says I Need A Lawyer?

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