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What Does a Real Estate Attorney Do (and Do You Need One)?

If you’re looking to buy or sell your home, you might be thinking about whether it is necessary to employ an attorney in real estate. In certain states or localities, you’re required. Even if it’s an option hiring a lawyer your side is the best option for you.

Find out more about the work that real estate lawyers do, the reasons to engage one, and the best way to locate an attorney.

Key Takeaways

  • Real estate attorneys help facilitate real estate transactions. They examine contracts and agreements between sellers and buyers they also provide titles opinions, participate in closings and more.
  • Some states or localities mandate the buyers or sellers to hire an attorney who specializes in real estate for specific aspects of the real property transaction, like the closing.
  • Although it’s not mandatory employing an attorney in real estate may be an investment worth considering, particularly for short sales when you’re selling or buying from outside the city or have complicated property issues.
  • The cost of a real estate lawyer is different however having someone to who can advocate for you could be worth the expense.

 

What Does a Real Estate Attorney Do?

Real estate lawyers are lawyers that are experts in dealing with real estate,. This includes the facilitation of home sales, assisting clients in disputes over property and other lawsuits, as well as conducting research into the property’s liability as well as the property’s compliance. 

Note

The law of real estate is one of the branches of law that allows lawyers to are specialized in assisting clients with “real property” concerns. Real property comprises commercial buildings, homes retail space commercial buildings and land as well as other places.

 

When Should You Hire a Real Estate Attorney?

The laws of each state differ regarding the extent to which a real estate attorney has to be involved in real estate transactions and how. In certain states, it is mandatory to have an attorney for real estate physically present at the closing however in other states, lawyers have to provide an opinion on title. 2 Many states do not require that an attorney representing the estate be present in any way. In those cases however, it may be worthwhile to talk with a lawyer to make sure you are sure that contract specifications are in good order and all papers have been properly prepared and to deal with any issues that could arise.

Note

The laws governing real estate transactions are different depending on the location Be certain to discuss the need to consult legal counsel with your agent, broker or.

 

How To Find a Real Estate Attorney

Finding a real estate lawyer should not be a problem But your objective is to choose an attorney who is priced reasonably with a solid reputation, and is able to make them available whenever required. This is a step-by-step guide for choosing a real estate lawyer.

Ask for Referrals

It’s a good idea to start by asking your friends and family who have recently purchased or sold the house for their suggestions. Additionally your real mortgage broker or real estate agent is likely provide you with a list of real estate lawyers who they’ve worked with.

Do Some Digging

Check with the website of your state bar association or call them to ensure that the lawyers you intend to reach out to are authorized to practice. It is also possible to use the internet to look up reviews to ensure that the lawyer has a positive reputation.

Set a Meeting

After you’ve narrowed your choices to three or two Ask for a meeting in order to inquire about your needs, obtain a quote for the price and be sure you’re a good match for each other and a good fit for the job.

Note

Real estate lawyers should be well-versed in the laws governing housing in your area and should be available and responsive to you. If you’re considering buying a certain type of property, like a condo, or co-op, inquire with the lawyer about their experiences in dealing with the types of properties.

 

Frequently Asked Questions (FAQs)

What is the cost of an attorney in real estate costs?

The fees for real estate attorneys are a part of your closing expenses and can vary according to where you are. The cost may be based on per hour. In certain instances, an attorney might be charged a flat rate. According to Thumbtack which monitors estimates of fees for real estate lawyers, the hourly fee is ranging from $200 to $250 per hour.

 

When is the best time to hire an attorney for real estate?

If your locality or state needs a real estate lawyer for closing or for an opinion on title, it’s an absolute requirement for you. A lot of attorneys are brought in after the real estate contract has been prepared, so that they will be able to ensure that there’s nothing unforeseen in the contract. They also can negotiate on behalf of you. It is also recommended to employ an attorney who specializes in more complex real estate transactions like short sales, foreclosures or buying a co-op or investment properties, navigating Zoning laws, etc.

 

How do you select a real estate lawyer?

A majority of people select an attorney in real estate based on recommendations from a friend, or based on advice from those real estate professionals they’re working with. It’s always wise to consider taking one or two extra steps to verify the credentials of an attorney before you choose them.

 

What questions should you inquire about a real estate attorney prior to hiring them?

When you are looking to hire a real estate lawyer begin by determining their level of experience particularly for the specific kind of real estate deal you’re involved in. Also, inquire about their availability, and the best way to contact them should you have any questions. Also, inquire about their pricing.

the authorAaron Krause

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