Why to hire real estate attorney?

Purchasing your own home is the purchase you may do once or twice in a lifetime. The complexity of the process, omissions, and mistakes can cost you million of dollars. So, it is always advisable to hire a professional and experienced real estate attorney that has vast knowledge of all the legal issues including financing, acquiring, leasing and selling all kinds of properties, whether commercial or residential.

Some buyers do not feel the need of hiring any real estate attorney because they think his responsibilities can be carried out by the agents. They only hire agents and overlook the fact that agents are not real attorneys and they can never give them proper legal advice. Every state has its own real estate laws and only the attorney of the state know well the federal and the state statutory laws governing the sale and purchase of properties.

In some states, agents cannot prepare the home purchase documents and cannot close the deal. In this situation, hiring an attorney becomes must for every real estate buyer.                                      

How to hire real estate attorney?

You can never get hands on the right real estate attorney through advertisements and telephone calls. You should always hire attorney through personal and business referrals, attorney referral services, state’s bar association or by making a list of attorneys and interviewing them to select the one that meets your criteria.

Fees of real estate attorney

Some real estate attorneys charge a flat fee for the entire real estate transaction. Otherwise, mostly attorneys charge an hourly rate. If you do not intend to hire him for the whole deal, can work for you for 2-3 hours for preparing documents and offer his valuable suggestions on various issues that are complicating your deal.

Duties and Responsibilities

1. He reviews the purchase contract and make sure you understand all its provisions and your duties and responsibilities arising out of them.
2. He works in collaboration with the mortgage loan officer, seller’s attorney, and agents to handle various issues like home inspection, attorney approval, and mortgage commitments.
3. He drafts and reviews all the paper work including bills of sale, deed, mortgage loan documents, tile, insurance policy documents, and other legal paper work.
4. He always negotiates in your favour and protects your interest in property laws and other matters related to utility expenses.
5. He catches up all the errors and mistakes in the legal paper work and ensures the entire deal is closes successfully in the best possible way.