Looking for a new property is an exciting feat. You are about to begin a new chapter of your life, and you must ensure it happens without any stress.
Along with the anticipation of a bright future comes the baggage of complexities.
Yes, real estate is a tricky business. There is an abundance of minute details that need handling. If not managed well, serious problems may arise. It is, therefore, significantly essential to have a qualified professional by your side. And that’s whom we call – a real estate attorney.
Who is a Real Estate Attorney?
According to Connolly Suthers Townsville a real estate lawyer helps you sort the legal matters associated with real estate transactions, for example, township ordinances, environmental issues, and much more.
They also help their clients evaluate and fathom the lease agreements, documents, contracts, and other paperwork.
It isn’t only vital for homeowners to consult real estate lawyers when buying/selling properties. In fact, real estate investors should also consult these attorneys for purposes like:
- Communicating with the realtor
- Gaining an understanding of the area
- Streamlining the buying/selling process
- Negotiating with buyers or sellers
- Handling legislative issues
- Verifying the legitimacy of transactions
7 Must-know Questions to Ask a Real Estate Lawyer
You must hire a real estate attorney who has significant experience and skills. Plus, it should be someone who asks a fair price and stays devoted to their clients.
Fortunately, choosing a real estate lawyer is not a challenging process once you have asked them these questions:
What are your credentials?
Assuming that the lawyer with a firm has a proper law license could be a colossal mistake. It is crucial to ask your potential attorney for their approval. You can double-check this information on the state’s bar portal.
It would be best if you also questioned them about their specialization.
It could be a master’s degree or a certificate in real estate law. It could also be their continuation of this education as they advance in their career.
Who will be involved in my case?
You rarely have one person handling the entire case. Some parts of the work are handed to the junior staff of a lawyer’s office.
Knowing everyone involved is essential. It would help if you asked the agency how many other people will be working on your case. It is also helpful to get their phone numbers for situations when you cannot reach out to the leading attorney.
How long have you been working in this domain?
Experience is one of the most critical factors to scrutinize in real estate lawyers. If you are dealing with a complicated transaction, a well-experienced lawyer will have the arsenal needed to deal with your case.
Remember, the real estate laws vary from state to state. You should ask your potential lawyers about their experience in your state. For example, when hiring a real estate lawyer in Edmonton, ask them how many years they have practiced law in this state.
Although the lawyers will not reveal details about their past cases, you can ask them practical strategies for scenarios like yours.
Asking the attorneys about their tactics offers a great insight into their professionalism. It is essential to tread with a detailed plan of action instead of a vague guarantee of success.
How much do you charge for your services?
Complex cases usually come with a higher fee. We recommend that you get upfront information about the price of a case like yours. Knowing how much an attorney charge allows you to manage your finances efficiently. Many lawyers bill their clients by the hour, and some demand a lumpsum amount.
Also, find out if there is a retainer fee and the costs are negotiable or not.
It is helpful to compare the fee against a lawyer’s skills, experience, and reputation to determine if the prices are fair. Consider it a red flag if a new lawyer charges more than the seasoned lawyer.
Moreover, it makes more sense to hire an experienced lawyer and pay more. Plus, you shouldn’t hesitate to negotiate for a better price.
How many clients do you have?
Asking a lawyer about the clients they serve currently unveils a few crucial details.
For starters, it shows that the lawyer has the capability and experience your case demands. Secondly, it also reveals whether the lawyer is too busy to devote them to your case. A busy attorney may fail to provide the support needed for successful case outcomes.
You should consider reading reviews from their past clients about their experiences. Also, ask the lawyers for references to get a better idea.
What challenges might appear in my case?
Real estate is complex means issues may arise during any buying/selling process. There could be problems regarding appraisal issues. Or, you may find that the house you are willing to purchase has a lien. There are some important things to know about home warranties that the lawyer will tell you about.
You may be about to close a deal where the seller promised to make repairs but didn’t abide by the promise. These issues can lead you toward time-consuming matters.
Ask your potential lawyer about how they dealt with such problems in their career. You should have someone who brings a successful result and won’t get stuck when the time for closing a deal is right there.
Do you also help with estate planning?
When purchasing or selling a home it is important to make sure your estate planning is up to date. Choosing an estate lawyer can help with that and so it's important to ask your real estate lawyer if this is something they also do.
How can I get in touch with you?
People usually hire real estate attorneys because they want someone to handle unpredictable emergencies. If you are dealing with a time-sensitive transaction, you should know how to contact your lawyers.
Choose someone who gets back to you at the exact time or within 24 hours.
Sometimes, an attorney also offers a free consultation. You should use these sessions to know about their aptitude. Feel free to ask them the questions listed above. These will help you to decide on a viable real estate attorney.
Ideally, it should be someone with good credentials, proven experience in the field, and fair prices. We hope you reach your desired attorney and rock the real estate spheres!