Does Maryland require attornies to draft the Purchase and Sale Agreement for commercial real estate?
As the title says, I would like to know if Maryland requires the commercial P&amp;S agreements to be drafted by attornies or can the buyer use a boilerplate form? I know residential P&amp;S agreements do not require attornies to draft them. The real estate is saying that it's required by law but double-checking. Asking for a friend.
[{"id": "feikgjs", "text": "I work in Acquisitions for a REIT.  I\u2019ve never heard of any state laws that require an attorney to draft a PSA. That said, spend the money and hire good real estate counsel to negotiate the contract.  Don\u2019t use a boilerplate form - ever.", "replies": [{"id": "feipven", "text": "I actually heard that was the case for New York. Can anyone confirm?", "replies": [{"id": "fej1n8h", "text": "You heard wrong. It's not", "replies": [], "depth": 3}, {"id": "fejfp10", "text": "Commercial re attorney in NYC checking in. Not required but I'll definitely make more money on the inevitable litigation than I will if you hire me for the transaction...", "replies": [], "depth": 3}], "depth": 2}], "depth": 1}, {"id": "feirdlz", "text": "I have no idea BUT having worked in commercial real estate private equity I\u2019ve honestly never done shit on contracting without hiring an attorney. Always hire an attorney it\u2019s worth every penny.", "replies": [], "depth": 1}, {"id": "feiskiq", "text": "Speak with a broker that\u2019s an expert for the type of property you\u2019re trying to purchase.", "replies": [], "depth": 1}, {"id": "fejq466", "text": "TECHNICALLY, we as agents cannot \"draft\" a written agreement or give legal advice. However, most offices have \"boiler-plate\" agreements that were at one point drafted by an attorney, and we fill in the blanks.", "replies": [], "depth": 1}]