If I am doing a short-sale and double closing it. I have a title agent that will handle all the work and closing. Would you recommend getting an attorney for attorney review? How does this generally work if no attorney and the end buyer does have attorney as far as attorney review goes? How does attorney review end if no attorney on my behalf but the end buyer does have attorney?
Beware of messing up title seasoning. If your buyer is using a loan, you may need a Land Trust to double close it without messing up chain of title and killing your buyer's loan; if the lender thinks it's a flip, they'll bail, or demand another appraisal or extra paperwork and time.
If your buyer is using cash, he/she might still not want chain of title broken in a way that it looks like it was flipped in the past 6-12 months, as THEIR final buyer's loan may have seasoning requirements. Make sure your atty knows exactly how this is done, or it'll get messed up for sure.
that is all taken care of as far as the trust, etc etc.
What I am wondering is do you recommend getting an attorney for the contract between me and end buyer even if I already have a title agent who will take care of the double closing?
It is just a flip so not sure if necessary to have attorney and what he would really do because my title agent will take care of the closing but wanted to see what you all suggest. Also, if I don't have an attorney, how does attorney review work if the other party does have an attorney?