Should I have a lawyer present to review my closing documents for a home I plan to purchase?

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Should I have a lawyer present to review my closing documents for a home I plan to purchase?

We have a verbally accepted offer on the house and we will close on the 19th of next month. Should i speak with a real estate attorney first? In Ozaukee, WI.

Asked on August 30, 2011 Wisconsin

Answers:

FreeAdvice Contributing Attorney / FreeAdvice Contributing Attorney

Answered 10 years ago | Contributor

It is always prudent to have another pair of eyes review documentation concerning the purchase or sale of a home that all required written disclosures have been made by the seller, to review the terms of the purchase agreement, review the preliminary closing agreement, initial escrow instructions, and all other documents pertaining to the transaction.

By having an attorney review the documentation before close is a smart way of preventing any unforeseen delays for the close of the escrow as well as possibly preventing problems after close of the transaction concerning claims that not all material conditions concerning the property were disclosed by the seller.

If you do not have a real estate agent representing you in the sale, there is all the more reason to retain an attorney to review the transactional documents concerning the purchase of the home.

Good luck.

 


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