We are living in very uncertain times, including financially. The most pressing thought for many people today is how to secure their assets. Financial decisions need to be very strategic right now.
When it comes to real estate transactions, you may be tempted to work without a real estate attorney to save money. At first glance, it might seem like a logical arrangement. However, you could easily miss a critical detail by taking this route and end up completely derailing your plans. Doesn’t sound so great now, does it? Read on to learn more about why you need a real estate lawyer and how to choose a good one.
Benefits of Getting a Real Estate Lawyer
There are several reasons for hiring a lawyer for your real estate transaction — whether you’re buying or selling property. Here’s a snapshot of what they can do for you:
Contracts
Most individuals can negotiate face-to-face with another party. However, the terms of the deal must be properly recorded in a contract for them to be legally binding. Attorneys can negotiate on your behalf and also make sure that the contract adheres to all state laws. Furthermore, they can address any specific issues that might affect the future use of the property.
In many states, the buyer and the seller have three days to review a real estate contract before it becomes legally binding. Some buyers and sellers aren’t aware of this. A lawyer will make the client aware of it, review the contract for legal glitches, make necessary changes, and insert useful contingencies. Read more at Investopedia
Your attorney will also do a title search on the property and can negotiate on your behalf if any issues come up. Additionally, they will look out for your best interests in the deal, rather than just try to close it. Remember, an agent’s goal is to make a sale and earn a commission; therefore, their agenda may or may not be aligned with your best interests depending on the circumstances.
How To Choose Your Attorney
Seeing that there are several long-term benefits to working with a real estate attorney, how do you then choose one to work with? It would be a double tragedy to hire an attorney and still end up in a legal mess simply because they overlooked something. Here’s what you should be searching for:
Knowledge and Experience
Not all attorneys are versed in real estate matters. Make sure you get an attorney who has a wide range of knowledge and experience in real estate, including:
- Landlord-tenant issues
- Foreclosure matters
- Warranty concerns
- Homeowner association disputes
- Title and boundary disputes
- Home buying
- Real estate contracts
- Evictions
- Estate planning
- Real estate investing
- Closings
Your real estate attorney should have extensive experience with buyers and sellers in home purchases and property dispute issues. You particularly should hire a great real estate lawyer for your first home purchase. Read more at Young Alfred
You don’t want to be a guinea pig for someone whose skills are being tested. Get a qualified attorney.
Don’t Miss Out On This
As you sort through your list of possible attorneys, prioritize anyone who is easy to work with and happy to answer your questions.
It’s smart to consult with more than one real estate attorney before making a decision. But while you want someone who’s knowledgeable, it’s also important to choose someone you’re comfortable working with.
You may have questions and concerns throughout the process. So you need a real estate attorney who’s patient and willing to explain complicated terms.
If a lawyer appears to be impatient, rude, or rushes the initial appointment, they might not be the best attorney to represent you…
You also want a real estate attorney with good communication skills.
In other words:
They respond to your calls or emails in a timely manner.
If you call to set up a consultation with a real estate attorney, and it takes the attorney a week or more to return your call, this could be a sign of what to expect as a client… Read more at My Bank Tracker
Jonathan Meek of Meek Law Firm has the needed education and experience to ensure that your real estate transaction goes smoothly. Contact him today to discuss your needs as a buyer or seller. Call (704) 848-6335 or use the contact form on the Meek Law Firm website to schedule a consultation appointment. We look forward to hearing from you.