Closing Advice in Philadelphia
Greetings everyone,
My partner and I have an offer that was accepted in Philly and put down a $1,500 deposit. Being that this is our first deal, which is being purchased from a wholesaler, we want to know if we need to retain an attorney for the transaction. We are paying cash and the wholesaler is of course getting his fee upon closing. Having worked in the mortgage business in CT I have personally closed loans without the need of counsel but not sure if we need to pay a $1k retainer. Not really sure what the attorney would be doing versus the title company.
The seller has already sent over an assignment contract with several errors which makes us want to either use our own contract or just pay to have the sellers contract reviewed.
Any and all advice is appreciated.