Do I need a real estate attorney to review my P & S agreement?

Asked over 1 year ago - Hanover, MA

I'm trying to buy an apartment in Weymouth, MA and I'm looking for a real estate attorney to help me review the P & S agreement. I would also like to find out the average cost for such service.

Attorney answers (5)

  1. Alan J Pransky

    Contributor Level 13

    2

    Lawyers agree

    Answered . A lawyer in a residential real estate purchase is like an insurance policy: You don't know if you need one until it is too late. It is the job of a lawyer to insert clauses that protect the buyer and to anticipate problems before they happen. Unles you can predict the future, you need a lawyer.

    THIS COMMUNICATION DOES NOT CONSTITUTE THE CREATION OF AN ATTORNEY-CLIENT RELATIONSHIP. Legal rights vary greatly... more
  2. Herbert Warren Cooper IV

    Pro

    Contributor Level 14

    1

    Lawyer agrees

    Answered . It is a wise idea to engage an attorney to represent you, not just for the P&S but to represent you through closing, as it is much easier to fix things at or before closing than afterward. You can Google for costs - it probably ranges $500-$900 assuming no problems. An attorney who also represents the lender (and will issue the title insurance policy) may be able to represent you on the lower end (because he or she will also receive the commission on the title insurance), but there is potential for conflict between your interests and the lender's interests. I only represent buyers or sellers, not lenders, because I feel the possibility for conflict is too high. Other attorneys are more comfortable with joint representation. Good luck!

  3. Anjali Gupta Stevenson

    Contributor Level 11

    Answered . Yes, you always need an attorney when you purchase property. It's an important investment and you want to be protected as much as possible. My range is usually between $550 to $750 depending on the complexity. If there are condo docs to be read, I usually be on the higher end of $650. The costs charged by other attorneys may be more or less, but having practiced for over ten years, that seems to represent the average of what I see attorneys charging. Best of luck!

    Anjali Gupta Stevenson, Esq.
    (857) 284-9844

    This information is not intended to be legal advice and does not create an attorney-client privilege or... more
  4. Robert R. Pellegrini Jr.

    Contributor Level 2

    Answered . I agree with the other responses. However, you should be able to hire someone to review the P&S agreement alone. This usually entails adding an Addendum a.k.a. "Rider" to better protect your interests. This is an important purchase!

  5. Christopher W. Vaughn-Martel

    Contributor Level 17

    Answered . A real estate attorney can review the P&S prepared by the seller and insert important contractual clauses to protect your interests. A real estate attorney advocate for you, answer questions that arise, make sure you abide by all contingency and other deadlines, and protect your deposits. Most attorneys charge a simple flat fee for this type of review and representation. Call our office for our flat fee and congratulations on having your offer accepted!

    Christopher Vaughn-Martel is a Massachusetts lawyer with the firm of Vaughn-Martel Law in Boston, Massachusetts.... more
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