While a real estate attorney isn’t strictly necessary for every transaction, many states do require a lawyer’s involvement. If you’re buying a home, for example, it is mandatory that an attorney be present at the closing. They can help you navigate the contract, negotiate repairs and the title search, and help you get the best deal possible. They can also attend the closing with you and your real estate agent.
Before you hire a real estate attorney, find out his or her fee structure and how much he or she charges. Are they hourly or do they charge a flat fee for each transaction? What are their fees? Find out whether they charge per hour, by the hour, or by the project. How much will it cost to review documents, attend the closing, and negotiate fees. A lawyer can also be very helpful during a tense negotiation, such as when the real estate agent is trying to upsell a property with only one bedroom.
Regardless of the type of transaction, a real estate attorney will be invaluable in ensuring a smooth and hassle-free transaction. If you are buying a home, you can expect legal ownership to change hands, and the party at fault will probably have to pay. If you are selling a commercial property, you may need a notary public, but most attorneys have a notary public on staff to assist you.
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