Home Buying in 02135>Question Details

Pig Liver, Home Buyer in 02135

Changing Closing Attorney During Mortgage Extension

Asked by Pig Liver, 02135 Thu Aug 2, 2012

I am a homebuyer working with an attorney to close my condo, but I am not satisfied with the performance and would like to get a new attorney. The transaction is currently in contingency extension since I don't have the loan commitments. My personal part has been approved but the condo hasn't been approved due to conflicting information provided by the management company. I am concerned that the mortgage would not be able to meet FHA requirements due to this concern. My attorney so far didn't stand on our side on exercising the mortgage contingency and just kept asking us to wait for the situation to unfold. We have no indication and timeline from the mortgage company that when the mortgage will be approved.

I haven't signed any agreement with this attorney and paid anything. If I would like to change the closing attorney, is it possible and how should it work?

Thanks!

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4
Masha Senderovich’s answer
Doesn't necessarily sound like an issue with your current attorney - could be on the side of the mortgage broker instead. Ask the mortgage broker for his/her opinion on what is happening before you switch attorneys. And a new attorney doesn't necessarily mean that you will get a better result and service... They're all busy, and the better the attorney, the busier they are. :(
0 votes Thank Flag Link Wed Aug 15, 2012
FHA Loans on condo's need to meet very specific and strict requirements.
I agree with CH, it appears you should have a serious discussion with your mortgage broker.

Good luck!

Territory.com
Massachusetts Premier Buyer Brokerage
Web Reference: http://territory.com
0 votes Thank Flag Link Mon Aug 6, 2012
FHA loans can be tricky.
Also, It seems that you have issues with your mortgage broker here. It is the broker who should have made sure the building is FHA approved.
I would voice my concern to counsel directly here, and see if s/he will accept your decision to fire them first. Please keep in mind that you may find yourself in the same situation with another lawyer.
Best of luck.
Please consult my counsel for more info: Ali Alavi. aalavi@alavibraza.com
0 votes Thank Flag Link Thu Aug 2, 2012
Were you up front with this attorney that you may want to back out of this deal when he/she told you to be patient? Did you ask him/her specific questions about this and you wanting to back out or being concerned about the condo?

I do think you could change attorneys, just consult with someone else so they know the full details of the situation and you know their fees. You will owe the current attorney fees for what he/she has provided so far (P&S review, etc).
0 votes Thank Flag Link Thu Aug 2, 2012
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