Great article in The Herald about whether or not to use an attorney when purchasing a home or condo. I’m all for it, in almost all cases. It’s true, you might be able to get away without using one, but why take the chance? If something unexpected happens, it’s best to have a professional by your side.
(Also, see below where the advisor says, "If you have a Realtor, you’re all set"? Um, not really. I’m a Realtor, not a lawyer. I’m not going to take on the liability of interpreting a purchase and sale contract or condo docs, I’m just not.)
By Jerry Kronenberg, The Boston Herald
Dennis Cataldo is spending more than $800,000 for a Lynnfield house, so he figures paying a lawyer a few hundred bucks to look over the paperwork is no big deal.
"A home is usually the biggest investment that a person will make in their entire life,” said Cataldo, who estimates he’ll pay his lawyer about $750. "For the cost (of hiring a lawyer), you’re getting the very cheapest `insurance’ you could possibly have.”
Consumers like Cataldo wouldn’t consider buying a home without hiring a lawyer to represent them.
But others say you don’t need to spend the roughly $500 to $1,000 that buyers’ attorneys charge to handle standard home sales.
Lawyer fees are not cheap,” said Ilona Bray, a lawyer who works as real estate editor at Nolo Press, a California-based publisher of self-help legal guides. "You definitely want professonals involved in a home’s sale, but if you have a trusted Realtor, they’ll look at what needs to be done.”
Complete article: When you lay down the law