said by brian: said by bobrk:
My assumption is that these kinds of laws are common back east, but I have never hired a lawyer for a real estate transaction in California and know no one who has.
And now you do. We completed a short sale last month and we listed the property with a brokerage that is backed by two lawyers (one is a family friend) that review all documents for the transaction. Granted, neither we, the buyer or the bank paid anything, beyond the 6% commission, for this. We were a bit wary of using a friend for the transaction, but it was nice to have the assurance that someone was checking to make sure the bank wasn't going to screw us.
Interesting. So you yourself hired them, or they were part of the brokers services? I think that's the subtlety I'm looking for here. I have no doubt lawyers are involved behind the scenes, but not explicitly hired by the buyers or sellers.