Lawyer needed yes or no and why??
 

My wife and I already purchased the land for our new home and are still figuring out what we want in the house and which one to build.

My question is do you recommend a lawyer when we purchase the house in TV. It looks like to me that you really do not have much of a choise on anything that a lawyer would handle but I could be very wrong.

Quite simply, no. If it will give you more piece of mind, hire one but you don't really need an attorney here. Florida real estate law is pretty cut and dried and TV has it down to a fine art. Some states, require an attorney. In some states, it's just a good idea. There are circumstances where an attorney is a good idea, such as when buying from a private party without having a realtor involved at any step just to make sure all Is and Ts are dotted and crossed.

Here, just make sure you get the necessary releases. I do think title insurance is a good thing to have, but many did not get it and don't feel they needed it. (See the thread on title insurance.)

I agree Red.

BUT for the first time in our life we decided against title insurance on a new home here.

If you’re financing the purchase, the lending institution will assign an attorney and you’ll be required to pay for it.

If you have a lawyer review the paperwork and they delete any part of the contract, TV will make them put it back in. There is no negotiation. So why get a lawyer?

Yes, but that is probably the attorney representing the lenders, not you. I wold agree you don't need one for buying in TV.

I think the main reason for an attorney would be to explain to you what your obligations are. Espicaly your on going dead restrictions obligations. You are either going to agree to all the requiements or go some place else.

Hi pauld315
On a new home purchased from TV, what would the attorney do?

Since I’m paying him, he represents me as well as the bank.

If the Bank designates the attorney, He works for them not you. You should receive a written notice stating such.

After having said that , I have bought and financed 7 homes and never engangaged an attorney. If you are dealing with a reputable financial institution engaging an attorney is probably a waste of money and the bank will not change the standard provisions of their documents anyway.

The loan closing cost charged to you differ from lender to lender and may be somewhat negotiable- lots of luck.