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Closing in a week! NWR

I can't even believe it. After months and months of house hunting, we're finally closing on a house in one week!I'm so excited and completely nervous all at the same time. I feel like we still have so much to pack...so much to clean.For all the other home owners out there - did you bring your own lawyer with you to closing? Or did you use the bank/mortgage company's lawyer? How long does the closing process take?

Re: Closing in a week! NWR

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    edited December 2011
    Congratulations!  Where are you moving?
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    edited December 2011
    If you really want to protect yourself, have your own lawyer at the closing table.  You may find a defect during the morning walk through and the bank's atty certainly is under no oigation to fight for you.  Also, the title company usually makes at least 1 mistake on the HUD that a first-time buyer or realtor may not easily recognize.  The actual closing should be around 2 hours or less, depending on whether you need to wait for lender approval of the signed docs.
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    sunshine1084sunshine1084 member
    First Comment
    edited December 2011
    We're headed up to Merrimac. Yay!
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    edited December 2011
    I feel like most lawyers that do residential real estate closings charge a flat fee, so if it's not costing you anything extra, why not have your attorney there.  My attorney came with me to my closing (but I work at a law that represented me and we had the closing at my office).  To be honest I would have felt fine with just the Bank atty because to represent a Bank you have to be on an approved list of attorneys that do this stuff all the time and the chances of them making a mistake that actually matters is pretty slim.  Then again if you're at all nervous, tell your attorney you want her/him to be there.
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    edited December 2011
    We didn't and it seemed to work fine.  If you THINK there maybe something at the walk thru that may cause you to want $$ from the seller then I would get a lawyer.  In our case we knew what we were getting and just didn't think it was worth the extra cost if probably nothing was going to be wrong.  Our closing took about an hour, losts of signing papers--the bank attorney should be able to explain each paper to you quickly.  Congrats!
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    edited December 2011
    Definitely have your attorney there....you want to make sure that everything is the way it should be.  You don't want to pass title and find out that there are a bunch of problems, especially if they can open you up to a lawsuit.  Our closing was an hour tops, but my friend's was close to 3!!
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    edited December 2011
    A lawyer should of looked over everything you guys have done like the P&S agreement, we just used that lawyer for us.  We only did that because it would not cost us anything extra at closing.  If you feel like you need a lawyer to just represent you, it would probably be like an extra $600.00.  It took us about an hour to close.  After you get out of there, you will feel like your walking on air!!  It is a great feeling!  Me and the FH bought a short sale...so it was a very long process.  So for us it was the ultimate sucess feeling!!!  Congrats!
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    edited December 2011
    We had our own lawyer, we just felt more comfortable that way. The bank's lawyer is there to protect the bank, not necessarily you. Our closing took about 30 minutes. Good luck!
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    h+j6510h+j6510 member
    First Comment
    edited December 2011
    We had our own lawyer look over the P&S, but the lawyer who represented the mortgage company had to be at the closing. We felt okay not having our lawyer there. The closing took about an hour, but that's because the seller was a little late and her attorney was a LOT late. It's really simple, you just sign your life away about a hundred times, they hand you the keys, and you're off! Congrats on the new place!
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