How to Hire a Real Estate Attorney
Many people do not feel the need to hire a real estate attorney to reach an agreement. They think that a real estate agent could do the job expected of a lawyer. Remember: Real estate brokers are not attorneys and cannot provide legal advice. However, you should not overlook the fact that real estate transactions are governed by state and federal laws, both statutory and common. Real estate laws cover a wide variety of legal issues, such as the acquisition, financing, development, leasing, and sale of all types of commercial and residential real estate.
There are several valid reasons to hire a real estate attorney to handle your real estate business. Reasons, such as protecting you from mistakes, document and number errors, and other problems, could lead to costly legal action.
You cannot expect to find a suitable attorney from a phone book or through an advertisement. You can hire a real estate attorney in the following ways:
o Personal and Business References: Check with friends who have invested in real estate and ask for their recommendations. Your business contacts can do the same. The experience that your friends and acquaintances have gone through can help you make a decision.
o Lawyer referral services: If you are not satisfied with your personal and business references, you can opt for lawyer referral services. Many referral services, specializing in real estate attorneys, carefully select attorneys from their list with the right qualifications and experience. You can certainly ask attorney referral services for their qualifications, including a particular attorney.
o Other Sources: You can check with your state Bar Association for references. Your local real estate association may also be able to recommend a suitable attorney.
Interview potential real estate attorneys:
Make a list of attorneys from all your sources and prepare to interview them in person. Make a list of the questions you want to ask. Most real estate attorneys will answer simple questions over the phone, with no fees involved.
Your telephone questions may include inquiries about your charges. Whether you charge by the hour or if you are willing to manage the complete real estate offer for a fixed price. You can request an estimate of the time it would take to complete the entire deal, which involves reviewing contracts, handling disclosures, and assisting with closing, etc.
Before selecting a particular attorney, make sure they specialize in real estate. An attorney who is also a licensed real estate broker would be an ideal option.
Therefore, through referrals, lawyer referral services, or bar associations, you can choose an attorney to help you through your real estate business.