Selling a typical single home may not need a lawyer but buying real estate property is a different matter. Buyers usually have bigger risks, especially If you are a residential investor buying homes from homeowners facing foreclosure-- a real estate lawyer is definitely needed in this type of transaction.
Here are some questions to test the reliability and suitability of your potential real estate lawyer.
1) Their professional experience
It helps to know how much experience in the real estate lawyer has. This will be especially important when dealing with a real estate development which has more complicated issues to consider.
2) Have they handled similar transactions?
Ideally, your real estate lawyer should have handled some cases similar to yours to ensure a quick and smooth problem-free transaction. They are also much more likely to spot something very easily overlooked if they’ve handled transactions like yours.
3) The way he or she will handle your case
Ask how the real estate lawyer plans to handle your case. This gives a good idea of what to expect and will show how knowledgeable the attorney is. You can sense a red flag when the real estate lawyer starts responding vaguely-- “Oh don’t worry about it, we will take care of it.”
Ambiguous responses mean that the real estate attorney isn’t prepared to give you even a brief description and explanation of things. With such high stakes involved, you will want a more open lawyer to handle your case.
4) How will you be billed
It is always important to know your billing schedule so that you can prepare for the payment and avoid any surprise fees. Some real estate attorneys work on an hourly basis with a standard rate of about $150 to $200. Fees may require a negotiable rate and sometimes, a flat fee may be asked.
5) Will anybody else assist with the case
Some lawyers are a part of a law firm with assistants who support them. They may assign it to a junior attorney or a paralegal. It is best to ask who will be involved in your transaction and their level of involvement. Be sure to establish good communication with everybody.
If you base your real estate lawyer selection on the questions that have been stated above, you are sure to find the best attorney to handle your real estate transaction. There are many real estate lawyers you can find online and it’s easy to get recommendations from your family or circle of friends.
Robert Aronov & Associates, PC 88-02 136th St, Jamaica, NY 11418 (718) 206-1555 https://realestatelawyernys.com