I have a buyer who wants to buy house as is & does not need to get a bank mortgage. Do I still need to pay full price for attorney and closing?

Asked by Destiny, 07015 Mon Sep 12, 2011

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11
Ibrahim Hugh…, Other Pro, UNION, NJ
Mon Sep 12, 2011
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More than likely, yes since regardless of the buyer's financing and inspection contingency your attorney is still doing (virtually) the same amount of work. It may appear that because the buyer is bypassing a lot of steps (ie financing), he/she is making the transaction easier. That's true for you but your attorney still has to work hard to make sure you as the seller are protected.
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Mike Sullivan, Agent, Gainesville, FL
Wed Jun 20, 2012
you can shop around for attorneys and fees....do not opt to close without one to represent you!
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Nick, Home Buyer, Clifton, NJ
Wed Jun 20, 2012
YOU GOTTA BE KIDDING ME????!!!!!!!!!
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George Belli…, , New Jersey
Mon Nov 21, 2011
If it's a cash deal and your buyer is truly willing to buy AS-IS then you can just use a title company to close. It will be several hundred dollars cheaper but will offer your buyer no protection.
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Peggy Ulmer, Agent, Colorado Springs, CO
Mon Nov 21, 2011
There are states that do not use or suggest attorney reviews. Attorney reviews is like insurance, you don't think you need it until something happens. It is in your best interest, but if you cannot afford the extra money to pay, then you MUST have an agent that understands the contact and explains it to you. Read over it yourself, word for word and make sure everything stated is what you agree to. In Oklahoma, we didn't have attorney reviews and after moving to NJ, I can see the benefits of them. If you are doing this as a for sale by owner without an agent-get an attorney without a doubt, you need someone looking out for you.
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Marco Gomez &…, Agent, Jackson Heights, NY
Mon Nov 21, 2011
Yes, as the attorney has to do the same work regardless. Closing costs for the seller are the same regardless of cash or financing (in NY anyway).

Marco Gomez
Keller Williams Landmark II
marco.gomez@gmail.com
Serving Queens, Nassau and Brooklyn.
0 votes
Jeanne Feeni…, Agent, Basking Ridge, NJ
Tue Sep 13, 2011
Though an attorney is not required, I surely recommend it. Fees do vary so before you decide to work without the benefit of an attorney, see if you can't find one within your budget.

Good luck to you,
Jeanne Feenick
Unwavering Commitment to Service
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Ronald Shaff…, Agent, Toms River, NJ
Tue Sep 13, 2011
Most South Jersey closings are done with a title company that will outsource some of the document prep to a lawyer. You do not need an attorney but it IS in your best interest to hire one. Please feel free to contact me if you would like the names of a couple of good real estate attornies. Good luck on your Sale !!
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Frank Dolski, Agent, Lahaska, PA
Mon Sep 12, 2011
If it is in NJ, you need a lawyer! If purchasing in PA., use an experienced agent. Even if you are buying new construction! You always want to obtain title insurance as well.
There are some fees that you will not have to pay as associated with a mortgage.

Good Luck!
Web Reference:  http://www.FrankDolski.com
0 votes
Cynthia Freu…, Agent, Warren, NJ
Mon Sep 12, 2011
You don't need to use an attorney. Title companies do closings too.
Honestly, I strongly recommend that you do use an attorney. Many charge less than a thousand dollars, and I think your peace of mind is worth every penny of it.
This is one of , if not the most, significant financial transactions yoy will have in your life. I would want to be surrounded by experienced professionals.
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Anna M Brocco, Agent, Williston Park, NY
Mon Sep 12, 2011
Attorney fees vary, therefore shop around...
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