If I’m buying real estate from a relative with no commercial loan involved, doI still need an attorney.

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If I’m buying real estate from a relative with no commercial loan involved, doI still need an attorney.

If I do need an attorney, may I use my own purchase agreement or does the real estate attorney require that he provide it? In Aiken County, SC.

Asked on July 6, 2011 under Real Estate Law, South Carolina

Answers:

M.T.G., Member, New York Bar / FreeAdvice Contributing Attorney

Answered 11 years ago | Contributor

I mean no disrespect and no insult to your family at all but really it is MORE important that you have an attorney to represent you in this transaction than with a commercial lender.  With a commercial lender the bank's attorneys will make sure that the property is free of encumbrances and that everything is legal.  Here you have no one to protect you in the event that there are violations against the property and something that is just not right with the title, etc.  So I beg you: do not prepare the contract on your own and please get a title search and a survey done and allow yourself some outs in the event that things are not as they seem.  Good luck to you.


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