I'm looking to make an offer on a condo. Do I need an attorney to help me draft the offer?
Is an attorney or a real estate agent the better way to go? I know the condo and I have the offer amount, just want to make the offer official and have some due diligence done on the home owners association maybe. any advice you can offer on the best way to make a bid, thanks!
An experienced realtor should be able to handle this for you.
While an attorney may be able to craft some language to your favor or identify issues, for a regular residential condominium it may not make sense in a risk/reward analysis. The seller is likely already paying 6% in realtor fees, and if you retain a realtor of your own, they are paid out of that 6%--you won't see any added expense for hiring a realtor in most transactions. That may not be the case with an attorney--you may have to pay those costs out of pocket while the seller's agent pockets the entire 6% commission. If this were a high-end condo, or a complex transaction with unique financing or other factors that might change your calculus and make it worth the out-of-pocket to hire an attorney, the answer could be different. But for an "everyday" condo purchase, an experienced realtor should be able to get you there with no money out of your pocket.
Disclaimer: This answer is provided for informational purposes only, does not constitute legal advice, and does... more
Disclaimer: This answer is provided for informational purposes only, does not constitute legal advice, and does not create an attorney-client relationship. Actual legal advice can only be provided after completing a comprehensive consultation in which all of the relevant facts are discussed and reviewed.
When you buy a condo, you own your individual unit, and all unit owners share joint ownership of the common areas, which are controlled by management.