David Saks: Who Needs An Attorney ?

David Saks - Real Estate Broker - The Real Estate Mart of Tennessee, Inc. - 4040 North Watkins-Suite #4 - Memphis, Tennessee 38127 - Phone (901) 357-4663

Who Needs An Attorney ?

                                            attorney

Do you absolutely have to have an attorney to close the deal? I don't think that there's a state in the Union that would require a buyer or a seller to have to have an attorney to close the deal. Do you know of one? Let me know if you do.

On the other hand, how do you feel about relying on a real estate broker or title company to handle the deal? Would it be ethical to discourage the use of an attorney for closing?

I think that just about everybody I know in the business recommends that an attorney be used at closing.

Why?justice

Attorneys know the ins and outs needed to get through the deal. They help make things a little easier for everybody. Attorneys are really good at working with agents, brokers, buyers and sellers when it comes to explaining the little nuances in the closing process. They're very good at explaining the legal stuff that Joe Buyer doesn't understand very well. Attorneys can also put up a nice barrier of protection for you in case things just happen to end up in a mess on the floor and in the ugly zone later.

Put your attorney to work today. He or she can really help you and make the process an enjoyable one as well. You'll be doggone glad you did !

What experiences have you had with your attorneys?




David Saks



Time&Temp Memphis

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Comment balloon 20 commentsDavid Saks • June 19 2008 08:43PM

Comments

I let all my client's know that this is a good option for them.

Posted by Steve Glose, TRC, CIPS, 407-616-7286, Orlando Real Estate, Orla (Keller Williams Classic Group) over 11 years ago

I am almost positive that in North Carolina and in New York that by law an attorney must close all real estate transactions.  Sounds like a monopoly to me.  But then again attorneys are writing the laws in the legislatures. 

Posted by Rob Arnold, Metro Orlando Full Service - Investor Friendly & F (Sand Dollar Realty Group, Inc.) over 11 years ago

Texas needs someone to draw up the deed but other than that we close through title companies.

Posted by Susan Hilton, Texas Aggie Real Estate, College Station Bryan Texas Real Estate (CENTURY 21 Beal, Inc.) over 11 years ago

We don't use atorneys as a rule here in NH...It is usually just between we agents,lenders and title companys!

Works for me...One less layer of red tape and expense

 

Posted by Joan Mirantz, Realtor, GRI, CBR, SRES - Concord New Hampshire (Homequest Real Estate) over 11 years ago

Perhaps the best option, Steve. Many thanks and it's nice hear from you.

Posted by David Saks ((retired)) over 11 years ago

Would be interesting to discover definitive  a ruling on that, Rob. Perhaps, for hypothesis, if someone didn't want to use an attorney and they wanted to exercise the option to use a title company instead, why wouldn't they have as much right right to do that as they would to represent themselves in a criminal case (although most would probably advise against it)? It's nice to hear from you.

Posted by David Saks ((retired)) over 11 years ago

Good information, Susan. Very nice to hear from you.

Posted by David Saks ((retired)) over 11 years ago

Cost efficiency, being careful, and diligent in the use of resources is a plus, Joan, in the modern world. Good thoughts. Great to hear from you. Hope your having a fine week.

Posted by David Saks ((retired)) over 11 years ago

David,

We use title companies here in Missouri.  The ones that I have used though have an attorney on staff.

Don R.

Posted by Don Rogers, Realtor, Broker, CDPE, GRI, OnullFallon MO & St Charles County MO homes (Keller Williams Realty Chesterfield) over 11 years ago

That's a full circle title company, Don, and probably safe to say a good one to do business with, too. Hope your weekend's off to nice start. Nice to hear from you, as always.

Posted by David Saks ((retired)) over 11 years ago

New York uses attorneys. In CA, we use escrow officers. However, if a client has a legal question, then that person is referred to a real estate lawyer. Nobody can practice law or give legal advice without being a lawyer, but drawing documents, processing files and obtaining signatures on loan docs is not considered practicing law in CA. It's a pretty straight-forward closing process.

elizabeth weintraub sacramento real estate agent

 

Posted by Elizabeth Weintraub Sacramento Realtor Top 1%, Put 40 years of experience to work for you (RE/MAX Gold) over 11 years ago

Hi David - NC is an attorney state - we HAVE to use attorneys.  We are clearly in the minority.  Since that is all I know I can't see doing a closing without an attorney - they are a valuable asset in my opinion.

Posted by Leesa Finley, RED Properties - Raleigh NC Real Estate (RED Properties) over 11 years ago

Here in Clarksville we have both Attorneys and Title Companies closing files. 

Posted by Roland Woodworth, Q Realty - Power In Real Estate (Q Realty) over 11 years ago

Sure is, Elizabeth. Thanks.

Posted by David Saks ((retired)) over 11 years ago

Guess that confirms it, Leesa, that, in some states, attorneys are mandatory for closing. I wonder if that's constitutional? But I agree with you. I think an attorney is the best answer at closing. Hope you had a fine weekend.

Posted by David Saks ((retired)) over 11 years ago

Sounds good, Roland. Nice to hear from you.

Posted by David Saks ((retired)) over 11 years ago

David,

If I have a choice between a title company and an attorney, I will pick an attorney everytime. Here in Dyersburg we have several attorneys(kind of like Realtors) and some are better than others but all are better than title companies.

Posted by Mike Frazier, Northwest Tennessee Realtor (Carousel Realty of Dyer County) over 11 years ago

Sounds good, Mike. If I'm about to buy a 600 unit apartment complex I think I'd consider seriously the advantages of using an attorney as opposed to what I could lose if I made a mistake at closing. The character, quality and experience of an attorney are the first three attributes I would consider. Great to hear from you.

Posted by David Saks ((retired)) over 11 years ago

Out title search man knows more about real estate than any attorney in the state.  We do not have to do attorney closes and usually don't.  We prefer the business who does nothing but closes rather than an attorney who has other business to take care of.  BUT he has an attorney on fee to ask him questions. 

Posted by Barbara S. Duncan, GRI, e-PRO, Executive Broker, Searcy AR (RE/MAX Advantage) over 11 years ago

Sounds like a nice arrangement, Barbara.

Posted by David Saks ((retired)) over 11 years ago

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