Welcome to City-Data.com Forum!
U.S. CitiesCity-Data Forum Index
Go Back   City-Data Forum > U.S. Forums > Colorado > Colorado Springs
 [Register]
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
View detailed profile (Advanced) or search
site with Google Custom Search

Search Forums  (Advanced)
Reply Start New Thread
 
Old 08-18-2008, 09:12 PM
 
16 posts, read 67,298 times
Reputation: 14

Advertisements

Greetings everyone,

I'm going to buy a house soon here in the Springs, and though I (think) I have a good realtor and mortgage broker, I still want an attorney who can advise me and read all the fine print -- and make sure there are no problems with this huge purchase!

Can anyone recommend a good real estate attorney in the Springs?

Thank you!
Reply With Quote Quick reply to this message

 
Old 08-19-2008, 02:50 PM
 
16 posts, read 67,298 times
Reputation: 14
Anyone? Bueller? Bueller?
Reply With Quote Quick reply to this message
 
Old 08-19-2008, 06:28 PM
 
Location: N.E. I-95 corridor
792 posts, read 3,136,508 times
Reputation: 213
Why use a real estate attorney when its not required in CO? Why waste the $$$???
Reply With Quote Quick reply to this message
 
Old 08-19-2008, 06:41 PM
 
16 posts, read 67,298 times
Reputation: 14
Quote:
Originally Posted by Spincycle View Post
Why use a real estate attorney when its not required in CO? Why waste the $$$???
Because this is the biggest purchase I've ever made, and I want to know for sure that I'm aware of EVERYTHING in those ten million sheets of paper. A few hundred dollars in legal fees is worth it for an investment that's going to cost much, much more.
Reply With Quote Quick reply to this message
 
Old 08-19-2008, 08:54 PM
 
Location: Ice Station Peyton, Colorado
132 posts, read 673,606 times
Reputation: 85
Quote:
Originally Posted by LWilson68 View Post
Because this is the biggest purchase I've ever made, and I want to know for sure that I'm aware of EVERYTHING in those ten million sheets of paper. A few hundred dollars in legal fees is worth it for an investment that's going to cost much, much more.
You are very wise to get an Attorney to give you good legal advise. I wish I had done that before signing a contract to build a house. I was use to California and Washington State laws where they tend to protect the Buyer. I never needed an Attorney in those states, but even then it might have been wise to do so.

You have much less "consumer" protection in Colorado. I have had two lawyers (one in Colorado Springs and another in Boulder), and many many thousands of dollars dealing with my builder. But I didn't have these guys before I signed paperwork. Dumb move on my part.

The biggest mistake we made was not having a Real Estate Attorney BEFORE we signed the contract.

If I ever buy another house in Colorado again, I will have at least three Real Estate Attorneys lined up before we even talk to a Real Estate Agent or Builder. NEVER sign anything important in this state without an Attorney. This is not a consumer protection state by any stretch of the imagination.

After the contract is signed, it's basically hopeless to fix. When we signed the closing papers at Escrow, we were not even allowed to have copies of the signed documents since there is no such requirement in Colorado. Imagine paying a half million dollars for a house, and not even getting a copy of the signed papers?

I can not recommend an Attorney since the one in Colorado Springs, the one in Boulder, and the one in Seattle were rather worthless. The only good Attorney I have had experience with was in Palo Alto (CA).
Reply With Quote Quick reply to this message
 
Old 08-19-2008, 10:29 PM
 
Location: Colorado Springs
1,312 posts, read 7,913,962 times
Reputation: 718
If you have trust in your realtor, you are good to go. If you have specific questions (like water rights and that kind of thing) a realtor will be your best bet.

I have purchased property before in this city and the realtors (Of course I am kinda cozy with a few around here) are on the up and up. With recent dealings with appraisers (which I was going to be) they are on a tight leash. Your only bet you need to research and you dont' need an attorney for, is to make sure your lender is in good solid shape.

Real estate attorneys are more needed (used to be in construstion industry) for developers, those that supply to the construction industry. You simply don't need one. If the realtor or the seller misrepresent the property, that's what you have title insurance for.

Straight up, you're too small time for most attorney's. State laws have you covered and if there's a huge flaw in the property, the title insurance or your mortgage insurance will cover it.
Reply With Quote Quick reply to this message
 
Old 08-19-2008, 10:39 PM
 
Location: Colorado Springs
1,312 posts, read 7,913,962 times
Reputation: 718
Quote:
Originally Posted by TheBeach View Post
You are very wise to get an Attorney to give you good legal advise. I wish I had done that before signing a contract to build a house. I was use to California and Washington State laws where they tend to protect the Buyer. I never needed an Attorney in those states, but even then it might have been wise to do so.

You have much less "consumer" protection in Colorado. I have had two lawyers (one in Colorado Springs and another in Boulder), and many many thousands of dollars dealing with my builder. But I didn't have these guys before I signed paperwork. Dumb move on my part.

The biggest mistake we made was not having a Real Estate Attorney BEFORE we signed the contract.

If I ever buy another house in Colorado again, I will have at least three Real Estate Attorneys lined up before we even talk to a Real Estate Agent or Builder. NEVER sign anything important in this state without an Attorney. This is not a consumer protection state by any stretch of the imagination.

After the contract is signed, it's basically hopeless to fix. When we signed the closing papers at Escrow, we were not even allowed to have copies of the signed documents since there is no such requirement in Colorado. Imagine paying a half million dollars for a house, and not even getting a copy of the signed papers?

I can not recommend an Attorney since the one in Colorado Springs, the one in Boulder, and the one in Seattle were rather worthless. The only good Attorney I have had experience with was in Palo Alto (CA).
I can't disagree with you more than I do.

In the state of Colorado, non disclosure of flaws in a property will put a broker out of business. You have to find a trusted broker or broker associate. Appraisers have come under some serious scrutiny since Pueblo appraisers were over valuing homes. Real estate law is pretty strong.

My family has an interest in a title firm and even though some title firms have come under scrutiny, they've been on the up and up with everything real estate.

One does not need an attorney. What 1% of properties are not what they said it was to be? I have never, ever known anyone to get ripped off and that's 40 years in this city.

Look, if the OP wants me to direct them towards a good real estate agent, he/she can PM me and I will find the right team to get that person to only have to pay the 6% commission. I do have connections and there are many here that have good connections too.

Please don't be directing them to pay the 6%+ and attorney's fees up and above that. Why go that route? Real Estate attorneys aren't cheap and usually for the commercial sector.
Reply With Quote Quick reply to this message
 
Old 08-20-2008, 07:57 AM
 
Location: Ice Station Peyton, Colorado
132 posts, read 673,606 times
Reputation: 85
Quote:
Originally Posted by COflower View Post
I can't disagree with you more than I do.

In the state of Colorado, non disclosure of flaws in a property will put a broker out of business. You have to find a trusted broker or broker associate. Appraisers have come under some serious scrutiny since Pueblo appraisers were over valuing homes. Real estate law is pretty strong.

My family has an interest in a title firm and even though some title firms have come under scrutiny, they've been on the up and up with everything real estate.

One does not need an attorney. What 1% of properties are not what they said it was to be? I have never, ever known anyone to get ripped off and that's 40 years in this city.

Look, if the OP wants me to direct them towards a good real estate agent, he/she can PM me and I will find the right team to get that person to only have to pay the 6% commission. I do have connections and there are many here that have good connections too.

Please don't be directing them to pay the 6%+ and attorney's fees up and above that. Why go that route? Real Estate attorneys aren't cheap and usually for the commercial sector.
I was ripped off by a Builder on a new custom home. I had an Attorney during the last few months of construction, during meetings with the Builder, and at Closing. That was a waste of money to be sure. What I needed was an Attorney BEFORE I signed anything. The problem was that the contract between me and the Builder was written up by him and his Attorney, and no one represented my side in that contract. Very one-sided and unbalanced in his favor.

I assume that a standard Real Estate contract might be less unbalanced, but how is the average person going to find out? From his Real Estate agent or Broker?

I forgot to mention the Broker that went to Jail for fraud in a Real Estate transaction that I was involved in. He lied to us and went to Jail. So, let's see now, I have been ripped off by a Broker and a Builder. I should trust these guys for what reason now?

I have heard that in this area at least, Title Companies don't look at Microfiche when doing the searches. So anything real old that has not been scanned into a system will not be found, is this true?

I did find a list of Real Estate contracts at the state level: http://www.dora.state.co.us/Real-est.../contracts.htm Are these contracts used here when buying and selling a house, and are they unmodified?

Looking at the contract 'CBS1-8-07. CONTRACT TO BUY AND SELL REAL ESTATE (ALL TYPES OF PROPERTIES) WITH CLOSING INSTRUCTIONS', right at the top it says:

"THIS FORM HAS IMPORTANT LEGAL CONSEQUENCES AND THE PARTIES SHOULD CONSULT LEGAL AND TAX OR OTHER COUNSEL BEFORE SIGNING."

On the general statement that in 40 years, no one has ever been ripped off in this area just smacks of common sense. When doing the court records search while fighting our builder, I saw tons of cases where people were claiming to be ripped off. Any city of any reasonable size will have that of course.

I really do not understand your attitude about not having some legal advise for the Buyer. We live in a country of Laws, and written in a language that few normal citizens can understand. I would agree that a standard state-wide contract is probably ok, but non-standard contracts between two parties should be reviewed by an Attorney.

I found a link to the Colorado Bar Association on the question of needing a lawyer: http://www.cobar.org/index.cfm/ID/20...r-Association/

Last edited by TheBeach; 08-20-2008 at 08:55 AM.. Reason: Blah, Blah, Blah
Reply With Quote Quick reply to this message
 
Old 08-20-2008, 11:35 AM
 
Location: CO
2,886 posts, read 7,132,082 times
Reputation: 3988
Quote:
Originally Posted by LWilson68 View Post
Because this is the biggest purchase I've ever made, and I want to know for sure that I'm aware of EVERYTHING in those ten million sheets of paper. A few hundred dollars in legal fees is worth it for an investment that's going to cost much, much more.
It might be worth your trying the El Paso County Bar Association lawyer referral service (http://www.elpasocountybar.org/lawyer_referral.cfm - broken link).

Quote:
The Lawyer Referral Service matches pre-screened attorneys with clients who seek their services. In most cases, we charge a $40 fee for a 30 minute consultation with a lawyer whose expertise and experience meet your needs. During that consultation, you can discuss your case and get some basic advice on how to proceed. Should you choose to retain the attorney’s services, all fees beyond the 30 minute consultation are to be negotiated between you and the attorney.
Reply With Quote Quick reply to this message
 
Old 08-20-2008, 05:57 PM
 
Location: Virginia
1,938 posts, read 7,122,984 times
Reputation: 879
Couldn't agree more. Too many people buy a new build without a realtor. Know your rights! Kudos!
Reply With Quote Quick reply to this message
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.

Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.


Reply
Please update this thread with any new information or opinions. This open thread is still read by thousands of people, so we encourage all additional points of view.

Quick Reply
Message:


Settings
X
Data:
Loading data...
Based on 2000-2020 data
Loading data...

123
Hide US histogram


Over $104,000 in prizes was already given out to active posters on our forum and additional giveaways are planned!

Go Back   City-Data Forum > U.S. Forums > Colorado > Colorado Springs
Similar Threads

All times are GMT -6. The time now is 05:50 PM.

© 2005-2024, Advameg, Inc. · Please obey Forum Rules · Terms of Use and Privacy Policy · Bug Bounty

City-Data.com - Contact Us - Archive 1, 2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12, 13, 14, 15, 16, 17, 18, 19, 20, 21, 22, 23, 24, 25, 26, 27, 28, 29, 30, 31, 32, 33, 34, 35, 36, 37 - Top