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Updated over 8 years ago,
Attorney question
I just made my first purchase on a property in Alabama. I am now at the point where I am reading through the contract with my mortgage lender.
So my question is about the attorney. So far in the loan, both the turnkey company (I am purchasing the property through) and the mortgage lender have their own attorney. I have sent earnest money the turnkey's attorney.
in the contract with my mortgage lender, it says, "(mortgage lender's) attorney represents only (mortgage lender's) interests and does not represent your interest. In states and locations that require that an attorney search the title of the subject real estate, (mortgage lender) permits the perspective Mortgagor to select a qualified attorney of his own choice to search the title of the subject real estate and certify that title to the creditor or land title insurance company."
Should I hire my own attorney? Or is it standard for the attorney of the mortgage lender to handel it?
Property details: 106k purchase price, single family, Huntsville,