What exactly do we need real estate attorneys for? If we will be using contracts that are provided here or using contracts from agents.... what do we an attorney for?
I asked on attorney if they "sit in" on closings for investors and the response was NO. I've asked multiple attorneys and title company reps about doing "assignments" and "double closings" and they are completely oblivious about what I'm even talking about.
I hope it's the fact that I haven't made enough phone calls yet and/or asked the right people.... I'm just wondering why I even need an attorney, especially if I have the right contracts and won't need them to rep me at closings.
Any help would be greatly appreciated,
Thanks,
B
If you send a Email to coastal-funding and ask them for a list of title companys they have used in your area they will give you a list..I got a list of 10 companys to use..They all know what your talking about
Thank you my friend, thank you!
It depends on whether your state is a title company state or an attorney state. Some states allow title/escrow companies to be used exclusively without an attorney, while other states require that an attorney be used to close.
This should help a little to help you figure out what type of state yours is:
http://activerain.com/blogsview/78001/escrow-closing-procedures-around-t...
Good luck!
In Christ alone, I place my trust.
Just sent emails to Coastal Funding and Insider's Cash regarding your suggestion..... thanks again!
I wish you much success,
B
"Never, Ever Give Up"
Thanks for your input Sarah. That's a valuable link that you posted.... it's bookmarked and will be shared with the "family"
I wish you much success,
B
You're welcome and thank you
In Christ alone, I place my trust.
Even if you don't have an attorney at closing. At the beginning it is good to have one look at the contracts to make sure they are not going to leave you stuck in a bad position. Some of those Realtor contracts are pro seller (not you the buyer)their original client, not you, especially if they were the listing agency. At which point you'd need to make adjustments in the addendum (possible legal time). Once you get to know the contract then you can make the adjustments. Just remember That most RE agencies are not pro buyer. They are house hunters. If they can get a listing they usually can collect from the seller right way listing and advertising fees which is a better guarantee of money. They can not guarantee you'll come in and buy it. If you are doing a FSBO you'll want an attorney to check the contract for sure.
Michael Radtke
www.nationalpropertyscout.com
Slide Show:
www.nationalpropertyscout.com/Slide-Show.html
Attorneys would be used more when dealing with FSBO type of deals. Lease contracts and other none agent used type of deals. It is just good to know what Attorney to go to if you need one. I have used Attorneys for power of attorney so my sister in Indiana can sign for me when I buy houses out there. I live in California.
I hope this helps.
Steve and Veronica
Steve and Veronica's Journal.
http://www.deangraziosi.com/real-estate-forums/investing-journals/58073/...
http://www.deangraziosi.com/real-estate-forums/totally-fulfilled/72344/d...
in Ohio you don't need an attorney, because the title company will take care of all closing documents.
When you ask if they do double-closing and they say no; ask the question differently; i.e. you can ask: if I buy a property, and have an interested buyer who wants to buy it from me immediately, can you take care of that for me?
Remember, most people are not investors and do not know the lingo...
the activerain link is very nice-thanks Mouse!
Learning and progressing every day,
Valerie
Valerie
“And will you succeed? Yes indeed, yes indeed! Ninety-eight and three-quarters percent guaranteed!” ― Dr. Seuss
"I believe in angels, the kind that heaven sends; I am surrounded by angels, but I call them friends" - Unknown
My journal: http://www.deangraziosi.com/real-estate-forums/investing-journals/59110/...
Thank you DG family! everyday I learn something new from this site. amazing people with all the knowledge to equip for my success!
Thanks for those of you out there sharing your valuable info!
Newbee
Never Give Up!!!
great article find on ActiveRain. I'm a top user on that site and I never saw that post. I've printed it out for my files. Thanks.
Always Looking to Acquire Houses | Always Looking to Amaze Investors
Thank you to all of the contributors in this thread. Just an update.... I emailed the two lending companies about finding title companies to work with in my area, but I've yet to hear anything from them.
I will post here when/if I get a response.
Thanks again!
B
"Never give up, Never Ever give up!"
Glad I could be of help
Good luck, Brian! I'm sure you'll hear something soon.
In Christ alone, I place my trust.