If I am the successful bidder for an REO being auctioned, do I need to get any attorney involved at closing if the seller is providing an insurable title and paying for title policy? Attorneys where I am charge close to $1000 and up for their fee alone, is that justified? Thanks in advance for any advice!
Our atty charges $400 per house for closing. That’s for conducting the title search and closing at his office. We did buy one house where the seller provided title insurance and we were able to close it at our Realtor’s office. The asset management company wasn’t going to send a rep to closing so we just did it at the Realtor’s office. All the other houses have closed at the atty’s office.
If you’re not planning on getting an atty involved, is there a local office where you’ll go sign paperwork?
Thank you justin0419 for your reply. The seller has an attorney/title company that will do the closing in the city where the property is located and they can also send closing papers in the mail.
I have purchased several bank owned properties and I have always let the seller’s attorney do the closing. I saw no need to have my own lawyer involved