If you’re thinking about buying a home, you’ll likely be doing a lot of research to make sure everything goes smoothly. At some point, one of your tasks will involve finding a real estate lawyer to ensure the ‘i’s are dotted, and the ‘t’s are crossed. Hiring the right real estate lawyer can also help you protect your interests, avoid pitfalls, and make the most of your transaction.
But the question lies – how to go about finding the right real estate lawyer suitable for your needs?
Of course, there is no hard-and-fast rule for choosing the right attorney, but there are some factors you should consider before making a decision.
Experience
Beyond the obvious (an attorney is an expert in legal matters), experience with real estate law is crucial. A lawyer who specializes in something other than real estate might lack knowledge of how to handle your specific situation, which could result in costly mistakes or missed opportunities.
So how should you evaluate a lawyer’s experience when it comes to real estate law? You’ll want to look at the following:
- Do they have experience handling cases that involve your area? If you’re buying a house in Chicago and your lawyer has never worked with a client purchasing property there before, it might be wise to seek another attorney’s advice.
- How long have they been practicing law? Someone who’s been practicing for only a few years probably doesn’t have much experience yet (although they may still be skilled). The opposite holds true, too—a lawyer who’s been practicing since before you were born will likely have great insight into issues relating to real estate transactions.
Areas of Specialization
When deciding on a lawyer, it is important to know what areas of law they can help you with. Some lawyers specialize in real estate law, while others may focus on contracts, legal documents, or even estate planning. Others may be able to assist with business law and family issues, such as divorce or child custody cases. Still, more will be able to help with criminal matters, such as DUI arrests and other types of misdemeanors and felonies. And finally, there are those lawyers who specialize in immigration issues and tax law.
Fees
How much does a real estate lawyer cost?
The simplest answer is that real estate lawyers’ fees are based on an hourly rate. The longer answer is that, although this may be true for the most part, there are other factors to consider—such as the type of legal work involved and the location of your case—that can affect how much you pay. Also, attorneys often bill at different hourly rates depending on their experience level or other factors, such as whether they routinely do business in your state.
How can I find out what my attorney’s fees are?
You can ask your attorney how he charges his clients for various services. This will give you a good idea of whether his price is fair compared with others in your area. If not, request that he provides you with a quote before committing yourself to hire him on retainer (a commitment usually made by paying him one lump sum or monthly payments). Generally speaking, attorneys don’t mind providing quotes because it gives them an opportunity to demonstrate their expertise and earn new business from clients who appreciate what they offer at lower prices than competitors charge for similar work done elsewhere.
Personality and Demeanor
The first thing you should consider is personality and demeanor. You’re going to be spending a lot of time with your lawyer, so it’s important that you like them. Make sure you can communicate well with them, that they understand your needs and the law well, and that they understand the real estate market in your area.
Resources for Attorneys
- You can find a lawyer by doing a search on Google or Bing.
- You can also use Yelp to find lawyers in your area.
- If you have friends who have had success with real estate lawyers before, ask them to recommend one.
- Use social media platforms like Facebook and Twitter to see if anyone has shared their experiences with a certain firm or individual attorney within these platforms’ communities of users.
In Conclusion
A lawyer can be a great asset to your real estate transaction, but it’s important to consider these factors before you hire one. We hope that this article has helped you understand the various things you need to look for in an attorney and how they can help you close on your new home or investment property.
