Why You Need a Real Estate Attorney

Why You Need a Real Estate Attorney

Most people only think of a few types of attorneys: bankruptcy attorneys, divorce attorneys, or defense attorneys and prosecutors. There’s another type of attorney that you will come in contact with, and that is the real estate attorney.

If you are buying or selling real estate, you will need a real estate attorney or house attorney. You’ll have lots of questions, like, how much is a lawyer for house closing? Or maybe what is the lawyer cost for selling house? Those are good questions to start with, but a better path would be to ask your friends, your realtor, or your lender to recommend an attorney. Then you should ask others on your team for a house attorney review. That way you are getting information from people who know the industry and people whose opinions you trust.

Call the lawyers that have been recommended and request a fee schedule from them. From there you can choose whichever attorney seemed most responsive, or whichever one has the lowest fees depending on which is more important to you. You’ll then choose that attorney and feel confident you’ve found the best lawyer for house purchase or sale.

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If you’re anticipating making a real estate transaction — either buying or selling a home — you’re probably already working with a real estate agent. But there’s another professional you’ll want on your team, too: a real estate attorney. Here’s an overview of why.

If You’re Buying a Home

If you’re buying a home, then a real estate attorney will help to make sure you’re getting what you expect and what you’re paying for. He or she will do that in a number of ways, including the following:

  • Ensuring that no covenants, easements, liens or similar legal proceedings would prevent you from using the property as you intend to.
  • Helping you to understand your purchasing contract.
  • Clarifying the terms of your bank mortgage and ensuring they are fair.
  • Making sure taxes and other adjustments are taken care of prior to closing.
  • Preparing and filing all necessary legal documents.
  • Overseeing the signing of the final papers.

If You’re Selling Your Home

If you’re selling a property, then your real estate attorney will protect your interests during negotiations and make sure all the legal details get worked out. That will include:

  • Preparing and/or reviewing the terms of the sale agreement.
  • Preparing the power of attorney and deed, if needed.
  • Arranging for secure transfers of deposits and so forth.
  • Ensuring the title is in order.
  • Overseeing the signing of the final papers.

A Note on Choosing a Lawyer

Of course, it’s important to find the right lawyer — not everyone with the title “attorney at law” will be qualified to handle your concerns. You need to be particularly careful if you’re offered what seems like a too-good-to-be-true rate; there’s no reason to overpay on a simple real estate transaction, but of course the top law firms won’t be working for bargain-basement fees, either. In the end, it all comes down to protecting your investment. If you’re buying a property worth hundreds of thousands of dollars (or even more), then a $1,000 fee is a relatively modest investment.

Do you have any tips or questions regarding finding the best law firms to handle real estate issues? Join the discussion in the comments.

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