Real Estate Attorney Questions And Answers

Retaining the services of a real estate attorney may be an essential step during the process of buying or selling a property. However, those that are uninformed or ill-experienced with these services will often neglect to use them to protect themselves or they may have an incorrect understanding of what they should expect.

What Are Some Situations Where You Would Need A Real Estate Agent?

Any real estate transaction will involve a series of negotiations and the need to prepare a variety of documents to be submitted to the court. While this process is routine, it is extremely complicated, and any mistakes that are made during this phase can have profound effects. When you retain a real estate attorney, they will be able to review any documents to ensure that they are correct according to the details of the negotiations. Additionally, these individuals can help you with researching any potential legal issues you may run into when you attempt to use the property. For example, if you are wanting to rent the property or make major changes to it, your attorney will be able to review these issues to ensure they are legal under the zoning and other regulations that may apply to the property.

Will Your Real Estate Attorney Also Act As Your Agent?

While a real estate attorney will represent your interests throughout the buying process, it is important to understand that these professionals will serve a different purpose than a real estate agent. For example, your real estate agent will be able to locate properties that suit your needs, handle negotiations with the other party's real estate agent and perform a variety of other essential functions. However, these individuals will not be able to provide you with legal advice, which can be a major hindrance in complex real estate transactions.

How Can You Better Manage The Costs Of Hiring A Real Estate Attorney?

Individuals will frequently have deep concerns about the costs of retaining a real estate attorney for their transaction. While this is a fairly understandable concern, it is often overstated as the costs of retaining one of these professionals will be a small fraction of the budget. Additionally, the services that these individuals provide can be essential in protecting you as you make this major transaction. To help make paying for these services easier, it is common for these attorneys to provide their clients with a flat rate structure for fairly simple transactions and an hourly option for more complicated matters. This will allow you to ensure that you are getting the amount of legal counsel you need without overly straining your budget.