Buying Off Market Deal - Do I Really Need A Lawyer?

[Art Maydan]

I found an off market deal and came to a verbal agreement with the seller. I spoke with the seller's lawyer today and he sent over a contract. I read over it and everything looks good. The only thing is we agreed for him to cover closing costs and I didn't see that. He thought I had a lawyer reviewing it, but I told him that the closing cost bit is my only objection and asked if his lawyer could just add that in and I'd be ready to sign.

If his lawyer adds in that the seller pays closing costs and everything looks good, do I really need to have a lawyer look over it? I don't want to pay $800 to have someone read over a cookie cutter contract for 5 minutes.

[Eric Dowling]

Art Maydan the fact that you already found a flaw in it should point you to a lawyer. No two deals are the same, no such thing as cookie cutter.