I am a first time home buyer and I just purchased a loft. Do I need a lawyer to go over all the documents/hoa documents with me?

Asked almost 2 years ago - Downtown Los Angeles, Los Angeles, CA

The loft is located in the downtown Los Angeles area

Additional information

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.

Attorney answers (4)

  1. Nicholas Basil Spirtos

    Contributor Level 20

    4

    Lawyers agree

    Answered . 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.

  2. Michael Raymond Daymude

    Contributor Level 20

    3

    Lawyers agree

    Answered . 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.

    I am licensed in California only and my answers on Avvo assume California law. Answers provided by me are for... more
  3. Jeff Hoang Pham

    Contributor Level 12

    1

    Lawyer agrees

    Answered . 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.

    The information presented here is general in nature and is not intended, and should not be construed, as legal... more
  4. Justine Marie Sliwka

    Contributor Level 2

    Answered . 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.

    Answers/responses offered only with regard to California law. All content, answers and information conveyed by... more

Related Topics

Real estate

The term real estate means land and items permanently attached to it, like buildings. This area of law deals with who has the right to own and use these items.

Homeowners' association

In many condominiums, subdivisions and other planned communities, an HOA maintains common property and sets rules limiting what owners can do on their property.

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