Many people do not feel the need to hire a real estate attorney to settle a deal. They think that a real estate agent could do the job that is expected of an attorney. Remember – real estate brokers are not attorneys and can not give legal advice. However, you should not overlook the fact that real transactions are governed by federal as well as state statutory and common laws. Real estate laws cover a wide variety of legal issues, such as acquiring, financing, developing, leasing and selling all kinds of commercial and residential real property.
There are various valid reasons for hiring a real estate attorney to handle your real estate deals. Reasons, such as protecting you from mistakes, errors in the documents, and in the figures, and other problems, could lead to expensive legal action.
You can not expect to pick up a right attorney from a phone book or through an advertisement. You can go about hiring a real estate attorney in the following ways:
o Personal and Business References – Check with friends who have invested in real estate, and ask for their recommendations. Your business contacts can do the same. The experience your friends and acquaintances have gone through can help you make up your mind.
o Attorney Referral Services – If you are not satisfied with your personal and business referrals, you can go the route of attorney referral services. Many referral services, which specialize in real estate attorneys, carefully screen the attorneys on their list with appropriate qualifications and experience. You can certainly ask the attorney referral services, which their qualifications are, including a particular attorney.
o Other Sources – You can check with your state's Bar Association for referrals. Your local real estate realtor's association could also refer an appropriate attorney to you.
Interviewing Prospect Real Estate Attorneys:
Make a list of attorneys from all your sources, and prepare yourself to interview them personally. Make a list of questions you wish to ask. Most real estate attorneys will answer simple questions over the phone – with no charges involved.
Your telephonic questions can include questions about his / her charges. Whether he / she charges per hour, or is he / she willing to handle the complete real estate deal for a fixed price. You can request for an estimate of the time he / she would take to complete the whole deal, which involves looking over contracts, handling disclosures, and helping with the closing, etc.
Before you select any particular attorney, make sure that he / she specializes in real estate. An attorney who is also a licensed real estate broker would be an ideal choice.
Therefore, through referrals, attorney referral services, or Bar Associations, you can make a choice of attorney to help you through your real estate deal.