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Purchasing
a home will probably be one of your largest
and most important financial transactions.
It is recommended you hire a real estate attorney
to ensure your real estate transaction will
be handled legally and professionally. A real
estate deal may look simple on the surface,
but deals have a way of taking on a life of
their own. Although good agents know a lot
about the negotiating and contracting part
of the process, you should use an attorney
for legal advice. If a legal issue crops up,
you want to be sure that you have the appropriate
professional guidance.
Tips
Hire an attorney who specializes in real estate
transactions. Free advice from your aunt who
practices another area of law may be tempting,
but it is recommended that you get paid advice
from someone who is used to dealing with real
estate contracts.
You
may want to consider an attorney who does
a significant number of deals similar to yours.
For example: deals in the suburbs are sometimes
handled differently than deals in the city.
Also, an attorney in the suburb may work mostly
with single family homes. He/she may not be
accustomed to interpreting condominium documents
for buildings that have to adhere to historical
preservation regulations.
Some
attorneys will charge you hourly and some
will offer a package deal. Make sure to discuss
fees up front. It's common practice for attorneys
to charge for all of their time, and even
a brief phone call will be added on your bill.
Get
a recommendation from someone who recently
bought or sold a house. Ask the referring
person about the attorney's response time.
Did he/she return calls/emails in a timely
manner? How did the attorney handle sensitive
situations? Were they communicate effectively
with other attorneys involved?
Along
with hiring your attorney, you'll also need
to hire
a home inspector. |
