Key Considerations When Choosing a Real Estate Attorney

Key Factors to Evaluate Before Hiring a Property Lawyer

Engaging in property transactions, whether buying or selling, involves significant legal and administrative work. Ensuring the process runs smoothly often requires expert legal guidance. Having a qualified real estate attorney by your side can help navigate complex paperwork and legal requirements. Here are essential points to assess when selecting a specialized property lawyer:

Responsibilities of a Real Estate Attorney
Real estate attorneys handle various aspects of property law, including ownership records, sales and acquisitions, dispute resolution, title clearance, and regulatory compliance.

Some common services provided by real estate legal experts include:

Uncovering unpaid loans, liens, or legal claims on a property. They work to resolve these issues, analyze deed restrictions, and verify the integrity of the title chain.

Drafting disclosures, deeds, mortgages, and loan notes, along with explaining mortgage terms to clients based on lender instructions.

Preparing settlement documents that itemize buyer funds and charges such as agent commissions, legal fees, taxes, title search costs, and underwriting expenses.

Reviewing and negotiating sales contracts to determine fair pricing and terms.

Verifying that all contractual obligations are met and assisting in resolving disputes during transactions.

Why You Need a Real Estate Attorney
Engaging a real estate lawyer benefits both buyers and sellers, especially in complex transactions like short sales or boundary disputes. Some states require legal representation for certain property deals, while in others, it’s optional but recommended.

Attorney Fees
Fees vary based on the scope of work, experience, and location. Some lawyers charge hourly rates, while others offer flat fees for specific tasks. For example, reviewing a contract might cost around $500, or hourly fees between $150 and $350 may apply. A complete transaction for a small property without a real estate agent could range from $2,500 to $3,500. Confirm rates beforehand to avoid surprises.

Finding a Suitable Real Estate Lawyer
Consider these tips:

Review their experience and recent successful deals.

Verify membership in the regional bar association’s real estate section.

Clarify if they charge hourly or flat fees for legal services.

Check if they’re authorized to represent certain title insurance companies.

Ensure they are approved to close deals with reputable banks.

Assess their availability for easy communication.