For your convenience, here is a transcript of the video:
Hi my name is Jeff crop. I own a company called the Home Buyer Agents. One common question I get from my buyer clients is “Jeff do I really need to hire real estate attorney for my closing?” And the the answer is absolutely! You should hire an attorney… you don’t have to an Illinois, but in 13 years I’ve never represented a buyer that didn’t hire an attorney and here’s why:
Basically an attorney is going to write a letter to the seller’s attorney they’re going to clarify some legal language in sales contract to better protect you. The offer to send initially is very one-sided in favor of the seller. Their going to ask for repairs to be made by the seller or repair credits from things you might have found in your home inspection with regard to fixing the house.
A typical attorney might charge four to five hundred dollars on average. Your right to hire an attorney and have her attorney review everything is typically negotiated as part of your sales
contract. It’s a very important right it’s something you’re going to demand when you make an offer, and basically at the end of the day your attorney’s going to sit down with you at the closing they’re going to go through a giant pile documents and explain every paragraph. You’ll have the title to the property, you’ll have all your loan documents and when you sign your life away to obtain a big loan they’re going to sit next to you at the closing table at the title company for an hour or so and make sure you feel comfortable about the process and everything you’re signing before you put your money down and get the keys and get your property.
So get an attorney. You can get a recommendation from your buyer agent. You can get recommendations from friends that have bought a home. It doesn’t matter where as long as they specialize in residential real estate.