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It depends on where you live. In many states, the title company handles closing and the forms are standard. I have bought houses in LA, MS, UT, and TX with no attorney needed.
It depends on where you live. In many states, the title company handles closing and the forms are standard. I have bought houses in LA, MS, UT, and TX with no attorney needed.
That's interesting. Is the purchase contract standard?
Texas is a non-attorney state. We use promulgated forms through TREC and TAR and the title companies handle the backend closing stuff.
You're more than welcomed to use an attorney, but you're going to pay the attorney to say, "Yep, that fill in the blank form has been filled out..." There is nothing an attorney can change to a promulgated form. If an attorney wants to create his own form, then the other party would have to obtain an attorney also because agents aren't allowed to help explain any contract that's not the promulgated form that we're trained on. But what typically happens is a seller says, "I'm not signing your attorney's form, you need to use the Texas form." Sellers don't like to sign things that they aren't comfortable signing nor able to get an actual explanation about.
Only in new homes construction would I recommend a RE attorney. I used one each time and had the contract amended to make it fairer to me as their standard contract is ridiculously skewed to the builder. For a straightforward purchase of a resale home, I wouldn't. I didn't for my last purchase.
In North Carolina, the law requires an attorney or title investigation. Mostly selected by buyers, but some builders and REOs require use of their attorney. Buyers should choose the closing agent and title insurance agent whenever they can.
So, generally, buyers use an attorney for title investigation, title insurance, and recording.
Agents can negotiate terms, within the functions offered by standard NC Association of Realtor forms, and with support from an attorney who may draft other documents and offer legal advice.
If the transaction is within generally common mainstream description, not exceedingly contentious, and without title issues, we convey almost all without an attorney involved by either seller or buyer, except for the title and closing functions.
It is important to recognize that the buyer's closing attorney has responsibilities to the buyer (and lender, if there is a loan) that surpass the responsibility to the sellers to be fair and honest. The closing attorney can coach their client, but not the "other side."
I get attorney advice for clients, or myself, in about (guessing) 15%--20% of transactions, and usually on minor fine points.
If either party has circumstances, an entity, estate, bankruptcy, short sale negotiations, etc, that fall outside the real estate agent's responsibilities, either or both parties will engage an attorney. Usually, that is not a contentious situation, but just that it becomes legal work that requires the agent to pass on to an attorney.
Only in new homes construction would I recommend a RE attorney. I used one each time and had the contract amended to make it fairer to me as their standard contract is ridiculously skewed to the builder. For a straightforward purchase of a resale home, I wouldn't. I didn't for my last purchase.
It's different in NYC. Every closing I've been to both the seller and buyer have their attorneys present. Sometimes the realtors don't show.
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