Question Details

Sam, Home Buyer in 92614

Location is southern californiaWe are in process of purchasing a bank-owned SFR with seller's broker

Asked by Sam, 92614 Wed Jul 9, 2008

representing the bank and my broker representing me, the buyer. We are starting to go over the purchase agreement. Does this doc need to be reviewed by a real estate lawyer? Could somebody tell me when a real estate lawyer should be involved and typical how much is the cost?

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an attorney should be involved the second you are uncomfortuble or unsure. buying real estate is serious business. not sure about your area, but you should be able to get an attorney's opinion for a couple hundred bucks. does your agent seem to understand the contract and be able to answer your questions? is the contract straight forward. You should know that the bank will not change their addendum, and will only make addenda that modify the language slightly if something is impractical. So, an attorney won't be negotiating for you - they'll be advising you of your risks and responsibilities.
0 votes Thank Flag Link Wed Jul 9, 2008
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