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In North Jersey most use one, in South most don't. If your agent explains the contract in detail you'll be ok. If you decide to back out of the deal during the 3 day attorney review you will need a letter from an attorney for this.
Location: Newton, NJ (but my heart is in Tennessee)
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I would never buy or sell a house without an attorney. When they represent you, they are protecting your rights as well. It is well worth the money you are paying.
Are attorney's necessary for the buyer when making an offer? My father is an agent in south NJ and the buyers and sellers down there hardly ever use attorneys. My agent explained to me today that most north NJ parties use attorneys. Just trying to get a feel whether or not its worth the $1000-1200 my agent indicated lawyers charge. Thanks in advance.
This was exactly my experience. Bought a condo in North Jersey and lawyer was required present. When we bought in South Jersey, we initially told the title company we were bringing our attorney to review it, and they took it VERY personally, so much so that we contemplated not showing the title to our attorney, and of course our attorney scoffed at the way business was done in South Jersey, and asked to see it anyway. I found it to be a very interesting dichotomy.
there is a lot more to the purchase of the biggest asset in most people's lives than just the title. Would you buy a business without an attorney reviewing the contract? Would you make any other transaction worth hundreds of thousands of dollars without an attorney? Why skimp here?
Most attorneys have done this work hundreds of times, so they know what to look for in contracts so you don't get royally scr*wed. At least with an attorney, you can sue for malpractice if it goes horribly wrong.
Our attorney ($850) has done way more work for us than anyone else. There are things he or she knows that you as a lay person will never think of. Also he or she will answer all of my/your newbie questions. Realtors "cannot give legal advice." $850 in the scheme of several hundred thousand dollars, and hopefully (for us) the only house we will purchase for a long time, is insignificant and well worth it.
We hired a real estate attorney for our South Jersey new construction contract. We are first time buyers and need that added layer of security!
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