how to choose a lawyer for real estate

How do you find a real estate attorney?

Some common examples of when hiring a real estate lawyer makes sense include:

• Exclusive representation. When you are buying or selling your home, everyone has an interest in the deal getting done, including real estate agents and the lender. ...
• Reasonable cost. If a real estate lawyer charges an affordable fee, hiring one could be a solid investment. ...
• Peace of mind. ...

How much does a real estate attorney cost?

How much you’ll pay for real estate attorney fees depends on your market and how involved they are in the transaction, but they typically charge a flat rate of $800 to $1,200 per transaction. Some attorneys charge hourly, ranging from $150 to $350 per hour. If I have an attorney, do I need an agent or broker to sell my house?

What is the difference between a title company and a closing attorney?

So, the difference between a title company and a closing attorney is that the title company will always be the one that's insuring the title and providing the actual escrow. The closing attorney may or may not be involved in that process depending on who has hired that attorney.

How much does a real estate closing attorney make?

• Lawn equipment
• Lawn care maintenance
• Repairs and home improvement
• Pest control
• Emergency fund

What is the job of a lawyer?

It is your lawyer’s job to give you legal advice about your legal matter. That is the reason that you are paying him or her to represent you in a real estate closing. As a result, you should cooperate with your lawyer and take his or her advice for the best possible outcome in your case.

What is a real estate closing?

A real estate closing is often a nerve-wracking experience for both the buyer and seller. Typically, a large amount of money changes hands during closing and both parties to the transaction have done a lot of work leading up to the closing date. Plus, real estate contracts tend to be full of legal jargon that can be difficult for ...

What is general practice law?

Many lawyers have a general law practice, meaning that they handle many different types of cases. Real estate law tends to be one area of the law that many general practice attorneys frequently handle. Contact the bar association in your state.

Do you need a real estate attorney if you have not hired a real estate attorney?

If you have not hired a real estate attorney in the past, but you have used an attorney to help with another legal matter, such as drafting a will, ask that attorney if he or she does real estate law, as well. Many lawyers have a general law practice, meaning that they handle many different types of cases.

Can an attorney specialize in real estate?

Check with your state bar association to see if attorneys in your state can become certified in real estate law.

Do attorneys offer free initial consultations?

Many attorneys offer free initial consultations, so schedule appointments with those attorneys whom your friends, family members, or colleagues recommended. When you go to these appointments, your main goal is to get a sense of the attorney’s experience in handling real estate transactions.

Do you have to pay an attorney to close a real estate transaction?

At this point, you will either need to pay the attorney the agreed-upon price, as many real estate transactions are priced at a flat fee, or pay the attorney a retainer, which is a set amount of money necessary to hire the attorney.

Choose A Real Estate Lawyer

It may seem like an obvious thing, but when choosing a lawyer for any kind of transaction or contract, choose someone who has specialized in the area you need help with; in this case real estate.

Shop Around To Find The Best Fit

While choosing a lawyer to aid you with your transaction, it is best to have a couple of options in mind. Start by meeting lawyers and visiting various law firms in order to find a lawyer you are comfortable with and who understands your situation thoroughly.

Knowledge (About Local Real Estate) Is Power

Perhaps the most important thing to look for in your real estate lawyer is the amount of knowledge they have regarding the local real estate laws in your area. Real estate laws may differ according to state, city, and/or zones so it is essential to hire someone who is aware of the local real estate laws and can guide you accordingly.

Look For Experience

Practicing law is like playing sports; the more experienced a lawyer is, the better they will be at their job. Therefore, when choosing a real estate lawyer to help you with your transaction, look for someone who has a good amount of experience with the kind of situation you are dealing with.

Get In Touch With The Bar Association

If all else fails, you can always get in touch with the bar association in your state and they will provide you with a list of lawyers who are specialized in real estate law. Once you have that list, you can begin the process of finding a lawyer who you think is the right fit for you.

Start with Word of Mouth

Ask friends, neighbors, and family first if they can recommend a real estate attorney. Otherwise, you can go to the local bar association or even ask your real estate agent. If you do the latter, make sure the lawyer is independent of the agent

Look for Experience

A leading factor in success is the amount of specific experience an attorney has had. You need to find a licensed attorney who has been practicing real estate law in your state and has handled cases similar to yours.

Understand the Fee Structure

Be sure to ask for the fee schedule and understand it completely. Except on occasions where a flat fee makes sense, like writing a contract, most lawyers bill by the hour. Depending on your geographic location, hourly fees can run from $150-$500 an hour.

Request a Case Overview

The attorney is working for you. It is reasonable to ask for an explanation of what he plans to do in your case. Vague answers are a reason to walk away. An experienced attorney will be able to tell you a specific, if rough, plan of action based on your description of the case.

Read the Fine Print

You are hiring someone. Be certain you understand the rules of engagement. A retainer agreement or an engagement letter will spell out exactly how your business partnership will work. If you don’t understand, educate yourself. If you aren’t comfortable, don’t sign it.

What is a real estate lawyer?

A real estate lawyer has a law degree and specializes in the legal aspects of property transactions. They work in both legal offices and courthouses. When a property transaction occurs, the vendor or buyer employs a real estate lawyer to ensure the transaction follows the laws.

What does a real estate lawyer do?

A real estate lawyer performs any legal duties involved with a property transaction. When a residential or commercial property is about to transfer from one owner to another, the real estate lawyer prepares documents for both the seller and the buyer to sign.

How to become a real estate lawyer

Aspiring real estate lawyers need to complete a long course of study ending with the bar examination. Follow these steps to become a real estate lawyer:

Salary and job outlook

Real estate lawyers earn an average base salary of $53,803 per year, according to Indeed Salaries. This figure depends on the location, size and success of the law firm. If you are a self-employed real estate lawyer, factors that can affect your income include:

Skills for a real estate lawyer

Real estate lawyers need soft skills that they have naturally and hard skills, such as legal concepts and terminology, that they gain during their education. Skills real estate lawyers commonly need to be successful in their careers include: