When you’re buying and selling real estate all over the country, one issue you may eventually encounter is the fact that some states have very particular laws about who can and can’t be involved in the preparation and facilitation of a real estate transaction.
In most states, real estate deals are fairly easy to close (whether you’re closing it yourself or hiring a title company or escrow agency to handle it for you), but there are a number of states (mostly on the east coast) that literally REQUIRE the involvement of an attorney to close any real estate transaction… regardless of the purchase price, property type or the parties involved.
For the average real estate investor, this isn’t a “problem” per se (after all… who would know better about closing a deal than an attorney?), but if you’re involved specifically in the niche of land investing, this can present some issues…
When you’re pursuing vacant land properties the right way, there will be plenty of opportunities to purchase vacant lots for a VERY low price (we’re talking – less than a thousand dollars) and frankly, when you’re literally required to enlist the services of an attorney (at well over $1,000 a pop) to close these deals, the cost can far outweigh the benefit, especially when the mechanics of closing the transaction just aren’t that complicated.
Read the article here: http://retipster.com/real-estate-closing-agents/
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