Hiring an Attorney during Turnkey

[Kevin Drouillard]

Hello BP!

 I'm in the process of buying a turnkey investment property in South Holland, Chicago. I'm halfway through the process. The only thing is, I have not had a lawyer up until this point. This is going to be my first property, and so is going to my first time buying a house. Therefore, it didn't really occur to me to get a lawyer until I was suggested to do so. So my question to you all is, do you think I still need an attorney? I've already signed the contract, I've already ordered an appraisal and did the loan application, I am pretty much halfway through it at this point, and I'm all only just waiting for closing and inspection. What do you suggest I do at this point in terms of representation?

Thanks!

[Chris Coleman]

First of all, do whatever allows you to sleep better at night. And if that's paying a few extra bucks to have an attorney confirm for you that everything looks legit, then do it.

But here's a question to consider...did you get your Lender yourself, or are you using a Lender that the Turnkey company lined up? The Lender will order the Appraisal. And choose the Settlement company.

Who is ordering the Inspection...you or the Turnkey company?

Bottom line, make sure that your Lender and Inspector are working for YOU, not the Turnkey seller.