Help needed with Info on purchase of Home (Oakland Park, Wilton Manors: short sales, real estate)

[howgr8]

I have seen a home that I liked in Oakland Pk, that happened to be a short sale, and had seen it a while back but was under contract in 1 day, the deal fell through, was put back on market, placed a bid and went to contract on it, which required immediate response. I was informed that it will take a few months, and there should be no problem, because bank approved the short sale amount the first time. My question, and info I need from you experienced, knowledgable people is do I need a Real Estate Attorney? I am originally from NY, and had sold and bought 3 homes which always required Attorneys, title search, and closing dates. I had been informed from a friend, and Real Estate Agent, that with a short sale, you dont need a R.E. Attorney, because the Bank does all the title searches, and you deal with them. Please inform me with some advice, and counsel me, what I should do, or is this a common practice in Florida. Also, was informed that Oakland Pk, is a relatively safe area especially East of 95, South of Prospect, and the surrounding area of Wilton Manors, please enlighten me with the truth, and your experiences, was told that alot of that area is going through revitilization, and alot of homes are under going transformation with much home improvements with much money involved. Just want to make sure, I am not sufferring cold feet, and a bad case of nerves, so please help ease my mind, no matter how truthful you must be. Thank You All

[JohnD_fla]

Bad idea to invest in anything as substantial as real estate in south Florida without having an attorney involved---no matter what the bank says, and especially if the bank said it. If you blindly trust banks to always be looking out for your best interest you'll eventually get screwed.

Oakland Park isn't "unsafe" but much of it is gritty. I wouldn't choose to buy a house there, but that's just me. Wilton Manors is adjacent to Oakland Park. I suspect that the gentrification that you've been hearing about is what's been taking place in parts of Wilton Manors, but not so much in Oakland Park. The neighborhoods vary from block to block. Some parts ok, some parts not so good. You should go there in person and drive around and see for yourself what the place is like before buying.

[SierraDog]

I think that a home purchase on the outskirts of Wilton Manors will probably be a good idea. Some areas of OP are indeed sketchy, but anything right near the WM line seems fairly gentrified. The "cachet" of Wilton Manors crosses over a bit into those immediately adjacent areas.
In my opinion you don't necessarily need to hire an attorney yourself but you do need a great buyer's agent who is very experienced with the process of buying a short sale, and can keep on top of the bank and ensure that your contract will serve you well. The buyer's agent you choose should tell you who the title company and attorney they work with is, and you should also investigate them. I would interview a few agents that have great testimonials.

[howgr8]

Thank You kindly SierraDog, it's most neighborly of you to reply, and greatly appreciated. After rerading so many of the threads on this site, it gets very confusing on who you can, or cannot believe. It seems as though everyone on here has an opinion, and attitude that they are most definitely the only proper source of conveying correct info. You however I find quite refreshing and upfront honest, by stating your comment. Will be moving on the outside Northern perimeter of Wilton Manors to Oakland Park. The agent I have working the deal has great testimonials, and is very experienced in short sales, and foreclosures, but I guess I feel most comfortable having an Attorney check everything over, especially with the current trend of housing and the abundance of stupidity within the banking industry. Once again, thank you kindly for your kind reply, and informative info