Question: I signed a contract to have a house built by a major homebuilder. I signed this contract without using either a real estate agent or a real estate attorney. When I purchased homes in Cleveland before moving to Arizona I used a real estate agent and a real estate attorney. Should I contact a real estate agent or attorney now? Should I purchase title insurance at a cost of more than $1,100 or should I simply rely on the good reputation of this homebuilder?
Answer: A real estate agent representing a buyer is primarily involved in locating the buyer’s desired home. A real estate attorney representing the buyer is primarily involved in reviewing and drafting documents for the purchase of the home. (Under Arizona’s constitution a real estate agent in Arizona also can review and draft real estate documents.)
In as much as you have already signed the purchase contract for the home, the main reasons the buyer having representation by a real estate agent or attorney are no longer present. I would suggest, however, that you review your contract carefully, and if you have any questions arrange for a consultation with a real estate attorney.
At the time of this discussion you can decide if the attorney should assist you in the transaction. In regard to your question about purchasing title insurance, the answer is “yes.” Any buyer of real property must have title insurance at the time of closing.