Resent-Message-Id: <8707231459.AA01088@bk.sei.cmu.edu>
Date: Tue, 21 Jul 87 07:26:49 pdt
From: tolerant!jane@Sun.COM (Jane Medefesser)
Message-Id: <8707211426.AA17251@handel.TOLERANT>
To: bjz@sei.cmu.edu
Subject: Re: Buying a new house
In-Reply-To: your article <1942@aw.sei.cmu.edu>
Resent-To: bovik@spice.cs.cmu.edu
Resent-From: Barbara.Zayas@sei.cmu.edu
Resent-Date: Thursday, 23 July 1987 10:59:41 EDT

> So, the bottom line is that I have a few questions:  1) should we hire a
> lawyer  2) what problems might we encounter without or without legal
> representation (taking into consideration that the above-mentioned work is
> being done)  3) are there any words of advice for closings, in general?
> 

We just bought our first home last December. We did not hire a lawyer. Our
real-estate agent made it very clear to us that certain things were
required by law (termite work if needed, roof be water tight, etc.) and
that we could take legal action AGAINST HER PERSONALLY if anything was
amuck.  Since you are dealing with large reputable firms my advice is save
your money and only hire a lawer if you have gripes. If you're basically
happy with the transaction you don't need the lawer.

Words of advice for closing: Have a few thousand dollars more than you
think you're going to need. I have yet to see a transaction close at the
exact dollar amount of the contract (Since a lot of those figures are
estimates, like taxes, homeowners insurance, home-protection warrantees).
Ours only turned out to be a few hundred more, but since we had dropped
EVERY LAST CENT we had saved to get into this house, we didn't have an
extra $250.00.  One couple I know were so naive that they forgot to figure in
an extra $2,000.00 in closing costs and almost lost the deal!!

---
* Not me, baby - I'm too precious *

Jane Medefesser		uucp: {bene,mordor,oliveb}!tolerant!jane
Tolerant Systems 	tele: +1 408 433 5588