House (condo) buying question

[Onlooker]

Do I need to have a lawyer look over a Purchase & Sale Agreement? I'm buying a condo from an established developer in an established building, and everything looks straightforward. (I'm in Massachusetts.)

[thom1102]

1. Absolutely...

You are stuck if there is anything shady in the contract. It is definitely worth the money. PM me, cause I may know a Mass real estate lawyer I could recommend.

[IrateCitizen]

2. You should ALWAYS have a lawyer look over such an agreement

... everything looks straightforward.

This brings up the same kind of feeling as when you have a small child and they're extremely quiet -- it's usually a sign that they're doing something they shouldn't do.

I can guarantee that the developer used an attorney to draft the full agreement. If you're dropping the amount of money on a condo that one costs, then retaining an attorney should be a minimal precautionary expense.

[DustMolecule]

3. You probably don't HAVE to.....but I think you should

Unless you are quite experienced with real estate (and condo's in particular), you wouldn't know what things SHOULD be in there (and perhaps aren't)....that sort of thing. It doesn't cost very much relative to the investment you are making. Consider it 'insurance' against having any problems/or 'unknowns' coming up at a later date.

[Commie Pinko Dirtbag]

4. Get the lubricated ones

Oh, you said CONDO. Never mind.

[SheilaT]

5. In addition to having a lawyer look it over,

take the time to read the entire agreement yourself. You might be quite surprised at what's included.

The essential rule is, NEVER sign anything you haven't read in its entirety.

And anything at all you don't understand, be sure to ask your lawyer about.

[Misinformed01]

6. Raven

is a Real Estate Lawyer in Mass.

PM her-

Stephanie

[wysimdnwyg]

7. It's like having a home inspector on an old house...

but it's for the paperwork. Worst case scenario is you're out a couple hundred bucks. Best case, he saves you from signing your life away on a dump.

If you're selling another property at the same time, you can probably get the closing company from that sale to look over your new contract pretty cheaply.