Travis. In a way this is a great idea. However in practice a tough thing to do around here in my experience if you are buying a standard house/townhouse. If you get an attorney, in my opinion you want a board certified real estate attorney. There are few of these. The next challenge is getting them to stick with you through the transaction for the small amount of money that is fair to pay them ($300-400?). That's typically small beans to them, so if they get a bigger deal to come along, they tend to drop these one offs from what I've seen. From what I've seen, they still normally use the promulgated form the Realtors use. The other trick I think is timing. Trying to run the contract by an attorney to review slow things down in a residential that could cost you the deal. The time may be worth it if you are trying to do things on your own without a Realtor. In summary I think it is a good idea if you can find one to help you and stick with you, but in pratice I think tough idea to implement.

Travis,
If you have any concerns about your Real Estate purchase, it is wise to have legal counsel. Even if you have a competent Realtor, having an Attorney reviewing the contract for you is not a bad idea. I never discourage my clients from having a Real Estate Atty represent them. But, do make sure that the Atty you work with specializes in Real Estate law, so they are familiar with all the current factors that may affect your transaction. As far as who to hire- ask friends and family that have had Real Estate transactions, If you have a lender that you are comfortable with, ask them who they may recommend also.
All the Best to You!

Yes, its a very good idea to have a Real Estate Lawyer specially if you are a FTHB and might not be clear on how the process works. If you’re ready to make or accept an offer on a property, and haven’t retained a lawyer yet, you can make the offer contingent on a lawyer’s review and approval before you sign.

Whether you’re buying or selling, a real estate lawyer is an essential part of the transaction. A Realtor helps you find the right house or the right buyer and negotiate a price and closing date that are right for you. Your lawyer can review any offer you make or receive and make sure that your rights are protected. Help you understand the purchase contract, including how you will take title on the property and verify there are no easements, liens, etc against the property. He could attend the closing and review all the papers you will be required to sign.

Good Luck!

Lisa