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When do real estate lawyers get invovled?
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MrsS2005
Mom of 3
Member since 11/05 13118 total posts
Name:
B
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When do real estate lawyers get invovled?
I'm trying to figure out when we should hire a real estate attorney. We haven't bought a house yet, but I want to be prepared for the next time we make an offer.
I don't know if it's different in NY, but CT (where we live) seems to use a standard real estate contract with a rider where you can add specific conditions/requests. I got the impression that attorneys usually don't get involved until closing. From what I've read on here, attorneys seem to be involved earlier in the process in NY. Does NY tend to use standard contract forms? At what point in the process did you start consulting an attorney?
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Posted 10/30/07 7:40 PM  |
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MommyTeffi
Yummy!!!
Member since 2/06 1827 total posts
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Re: When do real estate lawyers get invovled?
I've bought and sold in NY and CT. For NY since we were the seller our attorney was involved from day one. For CT, we didn't get an attorney until after we had put an offer in. We had in mind who we were going to use. We were using the attorney our RE recommended. I'm usually pretty cautious about using a lawyer recommended through an RE but we had a very tight time frame. I also 100% trusted my RE. I would rather use someone recommended than get completed screwed.
My attorney in CT did way more work that NY and cost less. In CT the attorney wears more hats than NY. If believe the CT attorney is also the banker and title closer.
HTH.
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| Posted 10/30/07 8:42 PM |
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csorisi
My 2 LOVES
Member since 11/05 1984 total posts
Name:
Corinne
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Re: When do real estate lawyers get invovled?
Most NY attorneys use a standard form and then there is a rider which every attorney has their own. Most riders state the same thing the form contract states but has addiitonal lanuage too. Attorneys in NY get involved once an offer has been accepted. that being said you should have an attorney on hand so you arent scrambling for one when you have an accepted offer, so you end up picking the one you want not the one that gets back to you first. I am not sure how it is in CT but an attorney will be with you the entire process from accepted offer and sometimes prior to an accepted offer all the way to the closing.
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| Posted 10/30/07 8:44 PM |
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MrsS2005
Mom of 3
Member since 11/05 13118 total posts
Name:
B
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Re: When do real estate lawyers get invovled?
Posted by csorisi
Most NY attorneys use a standard form and then there is a rider which every attorney has their own. Most riders state the same thing the form contract states but has addiitonal lanuage too. Attorneys in NY get involved once an offer has been accepted. that being said you should have an attorney on hand so you arent scrambling for one when you have an accepted offer, so you end up picking the one you want not the one that gets back to you first. I am not sure how it is in CT but an attorney will be with you the entire process from accepted offer and sometimes prior to an accepted offer all the way to the closing.
I don't know if this is true in NY, but I was surprised by the offer/acceptance process in CT. The initial offer is actually presented on the standard contract form with a rider attached. If accepted, the sellers sign the form and it's executed. I wasn't sure whether attorneys typically look over the contract. I've seen 1 or 2 other RE contracts in CT and the one given to us by our agent looked the same. If it's a standard form, how important is it for an attorney to look at it?
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| Posted 10/30/07 9:50 PM |
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itkocak
Member since 7/07 7639 total posts
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Re: When do real estate lawyers get invovled?
Message edited 11/14/2011 8:53:06 PM.
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| Posted 10/30/07 9:52 PM |
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