The loft is located in the downtown Los Angeles area
Just to clarify: The seller just accepted our offer so we'll be going into escrow and just starting the inspection. I want to make sure we understand everything the hoa covers and not covers and any fine print we might be missing with that.
If you have already purchased it -- isn't it a little late to get advice regarding the transaction? OTOH, if you do not understand your rights and responsibilities with respect to a contemplated purchase it is always wise to consult a lawyer so that you make beneficial decisions with respect to the purchase.
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3 lawyers agree
Construction / Development Lawyer
On the other side of the Mississippi, most real estate transactions are handled by attorneys. In California, they are done by real estate agents.
Buying property is a major transaction. Having an attorney review documents is not required, but is a good idea.
4 lawyers agree
Mr. Daymude is correct---the best time to consult an attorney would have been prior to completing the transaction. There's little an attorney can do for you after the fact, other than to go over the terms with you and give you a better understanding of what it is you just signed.
Best of luck.
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1 lawyer agrees
Real Estate Attorney
I agree with Mr. Daymude, and only add this: CC&Rs and other HOA documents can be complicated, and it will not hurt to consult a licensed real estate attorney if you have specific questions, a specific problem with your HOA, or just so someone can alert you to any unusual provisions, or terms that might affect your ownership. It always pays to be educated ahead of time.
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