Quote:
On 2004-09-28 13:25, idandte wrote:
If so, how much do I expect to pay the lawyer and what kind of service should I expect to get? Please advise....
thanks.
Yeah, inquiring minds want to know! Thank you. :-o
Well, I would suggest at the least have them look over your doc's . Some states you need a attorney to close and some you don't. I had a hard time finding an attorney that would look over my docs. I went to approx 20 different one's and some understood Subject To purchasing and others had NO clue. Do you already have doc's? If you don't I would suggest investing into John Lockes Subject to course. The course is great you can purchase it on this site. It has Subject TO doc's and I would recommend that you have a Real Estateattorney go over them and make the changes that need to be made for your state.
Technically you never need a lawyer to review a contract. Now, if you find later that there were things in the contract that you did not understand, what is your view then?
If you want to find a lawyer who understands subject-to investing then start with investment clubs or places like this. I found a lawyer who is very up on the topic by checking with my local REI club.
What he recommends vs. what some people do is different. When I get when I follow his advice is some added protection (his firm's liability policy for example). Even if you are completely correct in what you do you can still lose in a court case.
There is no simple answer to if you need a lawyer. Even folks who have not used one for their deals can not prove that they did not need one. Only that nothing has blown up yet.
No, you don't have to have a lawyer to buy subject to. A few states require you to have a lawyer to sell.
On the other hand you also don't necessarily have to have a safety line on when you go mountain climbing either. And the coast guard does not require you to have a marine band radio in your boat before you set out to sea. Also you are not required to read the safety manual before you start a chain saw.
None the less, unless you have some understanding of the risks and issues involved in each of those tasks the appropriate safety precautions are a good idea.
Around here attny's typically charge around $500 to do a real estate closing.
Quote:
On 2004-09-28 13:25, idandte wrote:
If so, how much do I expect to pay the lawyer and what kind of service should I expect to get? Please advise....
thanks.
Yeah, inquiring minds want to know! Thank you. :-o
Well, I would suggest at the least have them look over your doc's . Some states you need a attorney to close and some you don't. I had a hard time finding an attorney that would look over my docs. I went to approx 20 different one's and some understood Subject To purchasing and others had NO clue. Do you already have doc's? If you don't I would suggest investing into John Lockes Subject to course. The course is great you can purchase it on this site. It has Subject TO doc's and I would recommend that you have a Real Estate attorney go over them and make the changes that need to be made for your state.
I've purchased Johns course and far as I know you don't need an attorney to do your closing just a notary.
Do you need a lawyer to review a contract?
Technically you never need a lawyer to review a contract. Now, if you find later that there were things in the contract that you did not understand, what is your view then?
If you want to find a lawyer who understands subject-to investing then start with investment clubs or places like this. I found a lawyer who is very up on the topic by checking with my local REI club.
What he recommends vs. what some people do is different. When I get when I follow his advice is some added protection (his firm's liability policy for example). Even if you are completely correct in what you do you can still lose in a court case.
There is no simple answer to if you need a lawyer. Even folks who have not used one for their deals can not prove that they did not need one. Only that nothing has blown up yet.
John
[addsig]
No, you don't have to have a lawyer to buy subject to. A few states require you to have a lawyer to sell.
On the other hand you also don't necessarily have to have a safety line on when you go mountain climbing either. And the coast guard does not require you to have a marine band radio in your boat before you set out to sea. Also you are not required to read the safety manual before you start a chain saw.
None the less, unless you have some understanding of the risks and issues involved in each of those tasks the appropriate safety precautions are a good idea.
Around here attny's typically charge around $500 to do a real estate closing.