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Old 01-28-2014, 07:20 PM
 
Location: North Dallas
368 posts, read 928,629 times
Reputation: 156

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We live in South Florida and will be moving in anticipation of my job start. We are selling our own home here and preparing to buy. Our realtor said no lawyer is needed (it was a given when we lived in NJ). But we are nervous since we are conducting this purchase mostly from afar right now. We might miss something. Is it worth it and if it is, any recommendations?

Thanks!
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Old 01-28-2014, 07:44 PM
 
Location: Austin
7,244 posts, read 21,799,366 times
Reputation: 10015
Many states use attorneys to review contracts and such, but Texas is not one of those. Yes, you're allowed to bring in an attorney to review things if you want, but our contracts are promulgated by the state and are created by the Broker/Lawyer committee, so they're written by lawyers and are fill in the blank.

If you have an attorney review it, there isn't much they can do. They can't cross things out of a promulgated form. They might want to add verbiage, but if it's not standard verbiage, doubt the other agent would allow/advise their client to sign it.

Not sure how to miss something in a fill in the blank contract that wouldn't be caught during negotiations.
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Old 01-28-2014, 09:00 PM
 
Location: Port Charlotte
3,930 posts, read 6,440,025 times
Reputation: 3457
TREC has standard forms and addenda. All agents use them. Unless you have something really funky with the purchase, you do not necessarily have to have an attorney, but it is our call.

What to watch for? Overpaying. We had a rapid run-up, about 10-12% but sales have a seasonal slowdown and prices have generally stabilized...for now. Inventory is very low right now but sellers are cutting deals to sell in many markets.

Foundations. Heavy clay soil, very expansive. Watch for cracks over doors, around windows. Read the sellers disclosure carefully -required in Texas.

HOA dues. These can vary significantly. School districts. High schools can be a significant distance from some developments.

Use due diligence and good luck.
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Old 02-05-2014, 01:57 PM
 
1,212 posts, read 2,297,678 times
Reputation: 1083
You can absolutely have a lawyer review and no one is bound to use any form. Almost are transactions are based on the standard form, but we have always revised the form and added other sections. I think it depends on the size of the transaction and how comfortable you feel with your agent. If I was buying a 200k house, I would not spend $1,000.00 on an attorney. With a seven figure house I may consider it.
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