Buying a new home in TV

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  #46  
Old 03-01-2020, 01:05 PM
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PugMom PugMom is offline
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Originally Posted by kathyspear View Post
In NJ you have to use a lawyer. (We have bought and sold homes in 5 states and NJ is the only one that required a lawyer.)

kathy
yes, we needed a lawyer to close on our property in Ct., too
  #47  
Old 03-01-2020, 01:49 PM
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No need for lawyer or title insurance if you pay cash!
  #48  
Old 03-01-2020, 01:56 PM
JGuenther1 JGuenther1 is offline
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Quote:
Originally Posted by kathyspear View Post
In NJ you have to use a lawyer. (We have bought and sold homes in 5 states and NJ is the only one that required a lawyer.)

kathy
I sold 5 houses in NJ and never used a lawyer. Don’t know where you got that from.
  #49  
Old 03-01-2020, 02:17 PM
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kathyspear kathyspear is offline
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Originally Posted by JGuenther1 View Post
I sold 5 houses in NJ and never used a lawyer. Don’t know where you got that from.
We bought and sold four homes in Toms River and Tinton Falls. Had to use a lawyer for each. Maybe it is a county, not state, thing?

k.
  #50  
Old 03-01-2020, 03:38 PM
prettyw102@aol.com prettyw102@aol.com is offline
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Default No Need

Hi. We have bought and sold many properties throughout the years and have not used a real estate attorney since our first house closing in 1982. Have closed at title companies since then, and everything has been fine.
  #51  
Old 03-01-2020, 09:32 PM
Curtisbwp Curtisbwp is offline
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Do what makes you feel comfortable. I have bought two homes in TV and have NEVER hired an attorney
  #52  
Old 03-02-2020, 07:14 AM
jeriteri jeriteri is offline
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Default Real Estate Lawyer

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Originally Posted by LouGraf View Post
I was told that it is not necessary to hire a real estate lawyer to represent me at closing on a new home. Is this common practice? It does not sound right to me.
As a retired realtor I would suggest (just to check the final signed and accepted contract) you hire a real estate lawyer to proof it. For you to read through a contract and understand what is in it may be overwhelming and stressful. What ever makes you comfortable with the purchase is where it's at.
  #53  
Old 03-02-2020, 07:14 AM
stadry stadry is offline
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i was surprised, too, that atty representation was not policy,,, we bought from a private individual w/o licensed real estate personnel involvement,,, our title co will 'hold' closing,,, its unlikely we'll ever see sellers again,,, sounded a bit odd so i asked hometown atty if this is standard,,, he said he did the same
good point on tv real estate brokers/salesmen - they are NOT Realtors therefore no applicable code of ethics,,, the sop is make the sale',,, our tv broker showed 8-10 properties - standard comment was 'sellers are motivated - they'll accept far less than asking $ ! someone doesn't know the law of agency imo
  #54  
Old 03-02-2020, 07:36 AM
Mel B Mel B is offline
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Default Lawyer at closing

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Originally Posted by LouGraf View Post
I was told that it is not necessary to hire a real estate lawyer to represent me at closing on a new home. Is this common practice? It does not sound right to me.
Hi Lou, It is certainly you right have have an attorney at closing as is typical in many states. Here in Florida, title companies do most of the closings and no attorney is required. Hope that helps.

Mel Burich
ERA Grizzard Realty
  #55  
Old 03-02-2020, 08:10 AM
lorilorilori lorilorilori is offline
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Default Hiring a Lawyer

No - if u r paying cash.

Yes - if you own your own business and financing via the Villages.
At escrow, the villages will add paperwork - and threaten with daily
fees - have a good attorney that can and will stand up to the billionaires.
If u do not close on TV terms - and if any problems - just shrink and do
what they say or be prepared for a lawsuit.

  #56  
Old 03-02-2020, 08:56 AM
Dlbonivich Dlbonivich is offline
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I have been a Realtor in Florida for over 2 decades. I lawyer has never been necessary. We use title companies that have lawyers connected to them. If a problem should arise it will be handled before closing. Not sure about The Villages sales agents, but we use contracts and forms designed by The Florida Association of Realtors that protect consumers. If I have a question my brokerage gives me the opportunity to discuss my issue with an attorney. Good luck! Andrea Bonivich, Sellstate Superior Realty
  #57  
Old 03-02-2020, 02:11 PM
ts12755 ts12755 is offline
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I bought 8 homes and never hired a lawyer.
  #58  
Old 03-02-2020, 11:06 PM
pcacace pcacace is offline
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That’s true. Just closed today on a home. They use title co’s here. The title company researches the deed, and you wire the payment to the Title co’s Bank. Different but legal. Your R.E agent will guide you. Seller pays most of the closing fees.
  #59  
Old 03-31-2020, 07:04 PM
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Quote:
Originally Posted by Shamp View Post
No need for lawyer or title insurance if you pay cash!
I was good on no lawyer only concern was paying $1700.00 for title Insurance I did not think was needed. Thanks for confirming my not needing to pay for a unneeded service
  #60  
Old 03-31-2020, 07:17 PM
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Velvet Velvet is offline
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I used the title company... but usually, I write in my own words on the contract exactly what I understand it to say and anything I am not sure of I put a question mark besides. I record the explanation given to me so that if I ever have to go to court I can clearly show what I have agreed to.
Most of the time it is not necessary to do this and occasionally like mortgage contracts they won’t allow you to... that is when I walk away.
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