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hello2adi 2014-04-01 10:23 PM

Buying a new House, when to hire a lawyer?
We just booked a new house. The builder signed the contract the next day and gave us our agreement.
I wanted to know if we should involve a lawyer to go over the agreement or not.

We are told that once builder signs the agreement, our deposit money is gone. So, I dont know if getting a lawyer involved now will do any good except that we are spending $$ on lawyer fee.

Can someone please advise.

BlkStnBerk2 2014-04-01 10:35 PM

I'd get the lawyer to go over the contract for sure. We didn't pay anything extra on top of our lawyer's fees at closing, for this service.

GregS 2014-04-01 10:39 PM

You should have a lawyer review the agreement prior to your signature.
Many real estate lawyers will know what to add, what to remove, what to change.

If you have already signed it, then you are then bound to everything in it that within the law.

WellThatsLovely 2014-04-02 03:19 PM

If you and the builder have both signed, legally you've "lost" your deposit (but it's not unheard of to get out of a new home contract this early into things if you truly regret your purchase because most builders don't want to deal with nervous people with buyer's remorse, they get annoying lol)
Lots of real estate lawyers do nothing but new home purchases and will give you a flat rate and hold your hand throughout the whole process, so look around now so you have someone to go to if you run into any problems with your builder.

Pvo 2014-07-03 03:02 PM

When we bought a new home we had 5 or 10 days to review with our lawyer at which point we could back out.

Either way, still good to have them review..

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