Buying real estate is a complex transaction, which requires the services of an experienced real estate attorney. If you want your real estate buying experience to be as pleasant as possible, find you a lawyer that’s used to dealing with real estate transactions.
Do not be naive, by believing most real estate lawyers are created the same. Real estate transactions requires competent legal help, and the wrong lawyer can be detrimental to your financial well being.
Remember competence, experience and integrity are qualities that should be possessed by any lawyer specializing in real estate transactions.
Picking a real estate attorney from the yellow pages is like rolling the dice, you never know what you might get until it is too late.
I once attended a closing, and the buyer’s lawyer was way over his head with the transaction. He forgot to confirm, and bring relevant documents, and he was trying to answer his cell-phone at the same time.
The closing had to be postponed for another week, which cost the buyer additional charges for the mortgage banker lawyer’s fee.
Below are some useful tips that would help you in your search for the best commercial real estate lawyer.
Lawyer Real Estate – Talk to Friends and Relatives
The first place to start is by talking to friends and relatives that have purchased real estate in the past.
It is unwise to seek recommendation of a good real estate attorney from someone that have never purchased real estate.
You need someone with first hand knowledge about the lawyer, and not passing on hearsay rumors to you. Ask them what they liked about the real estate lawyer and how much was the fees.
Get several recommendations, and then find the one you’re most comfortable with, based on common sense factors like promptness, organizational strength and experience.
Real Estate Lawyer – Practicing for How Long
The last thing you need when doing real estate transaction is a rookie lawyer, with absolutely no experience in real estate law.
Yes they need practice, but you should not be the guinea pig in their experience acquiring process.
Find a real estate attorney in business for a minimum of five years, with several deals concluded, and references you can easily verify.
Competent real estate lawyers would have some open clients you can talk to, for competence assurance.
Real Estate Transactions – Ask a Real Estate Broker or Agent
Real estate brokers and agents are good sources for finding an experienced real estate attorney.
But like anything else, cronyism is rampart. Be mindful that a lot of professionals you meet during your real estate transaction process would care less about your future financial well being, as most of them would see you as just another paycheck.
All real estate lawyers recommended must be vetted, based on your own criteria. Do not follow blindly attorney referrals without doing your own due diligence. Visit and interview them, before choosing the lawyer you’re most comfortable with.
After several real estate transactions under my belt, good real estate attorneys have some obvious traits. Most are generally very busy, and value their time greatly.
The good real estate lawyers only engage in real estate transactions, including commercial real estate. A good real estate attorney would give you some time for initial consultation.
You need to be prepared with your questions before the meeting with the attorney. Have your question written down and they would take you more seriously.
Some Quality Signs To Look For
If you have made an offer on a home or commercial real estate, bring the pertinent details with you. An experienced real estate attorney would make you comfortable and encourage your questions. The bad ones would try to rush and intimidate you, and should be crossed off your list.
When you visit the law firm, pay attention to the office setup and see how the other staff members react in your presence. If you find other clients in the waiting area, quickly exchange phone numbers and call them later, to verify their experience with the real estate lawyer.
When you’ve found your real estate attorney, be considerate and tell him or her everything about your transaction.
If you keep pertinent details about your real estate transaction from your lawyer, you’re asking for trouble. If you’re buying with creative financing, tell the real estate lawyer about it.
Buying real estate is mostly a sound financial move, and a good real estate lawyer will make sure you’re protected legally, before you assume ownership of the real estate.
5 comments… add one
This is good advice and something people should take seriously. You make a good point about rookie lawyers, true they do need to get experience, but not at your expense. Also I know we’re not supposed to judge by appearance, but in this case appearance matters. Is your potential lawyer dressed professionally? Is his office well appointed and tidy? When he meets with you does he give his full attention, or is he distracted by papers on his desk and cell phone calls? I agree with the idea of getting references too, especially from non related sources. Good post. Thanks for sharing.
I never thought to look around at the office and be aware of how people react to me when walking in! I recently was looking for a real estate attorney and spent months with the process. So many of them turned me down or just claimed to be too busy. That just sounds like BS! I found mine online. He was honest, worked for himself, and got me the house of my dreams. I enjoyed reading this and wish I knew this stuff going in!
Okay, I have to admit that I have purchased two homes and (as far as I knew) never used a real estate attorney, unless maybe one was working behind the scenes. We had a title search done and all of that. Was I dealing with an attorney without knowing it?? It certainly makes sense to use one…now I feel a little bit stupid. I mean why didn’t I have an attorney when I was dealing with hundreds of thousands of dollars?? I agree with Darlene on the points that she made about choosing one. Nice post!
I had no idea I would need to hire a real estate attorney if I were to purchase or sell a house. I never dealt with one in the past, but then again it was a small house. I take it, that it has to do with expensive houses? Either way I am going to look more into this if I ever decide to sell or purchase a new house. Just in case.
Having a real estate attorney is a very good idea when making a purchase as substantial as a new home. Many real estate agents in our area have a real estate attorney on call that they can use whenever necessary and it usually saves the new home buyer some money.