I thought my real estate agent would cover the whole thing. How does an attorney get involved? Why do I need to hire one on my side?
I ask this because I have read about it in first-time buyer help sites but they don't say why do I need an attorney.
Also, my credit union just sent me this memo:
Once you've considered the down payment, make sure you've got enough to cover fees and closing costs. These may include the appraisal fee, loan fees, attorney's fees, inspection fees, and the cost of a title search. They can easily add up to more than $10,000 - and often run to 5% of the mortgage amount
I don't get it.
[update] I'm in Los Angeles, US, my real estate agent told me to get one.