Tuesday, September 13, 2005
Do I Need an Attorney?
In a word: Yes.
Even real estate agents rely in closing attorneys to close a real estate transaction. In many states, it’s required.
In some areas, there are no “closing attorneys” per se, and title companies are the ones who handle the transactions. Even in these cases, the title company generally uses a staff attorney. You can talk to any decent, local loan officer and they’ll tell you who handles closings in your area.
You can do a lot of things yourself and save a lot of money, selling your home by owner. But the closing should not be one of them.
Fortunately, closing is inexpensive - most attorneys or title companies charge just $300 - 700 for a closing. And you would have to pay that even if you used an agent (on top of the agent’s commission). It’s worth it.
~Robert Creek
The FSBO Blog
