Real estate lawyer
There are a number of people who opt to make real estate transactions without the help of a lawyer. However, this is not advisable. Though a real estate agent can be of much help to you in making things possible and helping you out with the transactions but still it is important that when it comes to agreements and other issues you should take the help of a real estate lawyer. Let us see why is it important to hire a real estate lawyer and how can you find a good lawyer for your deal.
Why to hire a real estate lawyer ?
There are some states that allow real estate agents to deal with legal transactions of real estate. The transactions are so standardized now that in most of the cases the same purchase contract is used and just by filling in some blanks you can complete the contract. But if there are some legal issues related to the property then you would need the help of a lawyer. Though good real estate agents would know how to make negotiations and deal with contracts but they cannot make judgments on legal aspects. Apart from this is you have a real estate lawyer by your side then completing your real estate transaction can be a better experience and you would not have to rack your brains for completing the legal formalities.
The real estate lawyer also performs the following duties:
- Review the contract and ensure that all provisions and contingencies are in your best interest
- Inform you of your legal rights and obligations
- Advise you on what the title policy does not protect against, emphasizing marketability of the title when you sell
- Prepare a bill of sale to cover any personal property such as curtains and appliances that you and the seller agree shall remain in the home
- Prepare or review the closing statement and other closing documents, and let you know about seller contingencies that affect your interests
- Obtain a title search, evaluate the status of the title and require appropriate legal remedies to clear any defects
- Interpret and counsel you about all legal documents related to the title and transaction, including deeds, mortgages and closing statements
- Check for unrecorded municipal liens, including sewer and special assessment liens
- Advise you on how you should take the title to the home, and how this affects your overall business and personal estate
- Inform you about the income, estate, and gift tax consequences to your estate
Advantages of hiring a real estate lawyer
When you hire a real estate lawyer then you can have him to review the contract and explain exactly what you and the agent are agreeing to. The real estate lawyer can also help you in evaluating the loan documents before they are signed. This can prevent a future foreclosure. Providentially, today's real estate market has slowed down some, so there will usually be time to have a real estate lawyer review it before it is signed, if there is a time limitation, have your lawyer review it after it is signed. A number of states now have a cooling off period on sales contracts, so you have time to back out of a bad agreement.
How does the real estate lawyer charge ?
A major question that haunts people willing to make real estate investment is whether hiring a real estate lawyer would be an expensive deal. Well, the answer to your question is that it depends on the lawyer whom you are hiring.
However, the real estate lawyers charge fee based on four types:
Hourly fee arrangements: This fee arrangement is based on the situation related to the case and the experience of the real estate lawyer. In this fee structure, the client is mostly responsible for miscellaneous expenses such as filing fees, court fees, transcripts and sheriff's fees.
Contingency fee arrangements: This fee arrangement is most commonly applicable in personal injury claims and collection cases, but it can also be used in the settlement of real estate disputes. Under this arrangement, the lawyer will not receive any legal fee unless the client recovers some money.
Percentage fee arrangements: This fee arrangement is used in the administration of an estate and in the buying and selling of a home. The fee is a fixed percentage of the real estate deal.
Flat fee arrangements: In flat fee arrangements, the lawyer gives a specific legal advice to the client in exchange for a specific sum of money. However, not all lawyers charge on a flat fee basis. But with this fee arrangement you can make sales faster as you will be free from the worry of spending a lot of money on the deal.
Listed real estate lawyers
Some of the real estate lawyers are mentioned below:
Lutz, Bobo & Telfair, P.A: They practice real estate laws for all kinds of issues related to real estate. You can contact them at Two North Tamiami Trail, 5th Floor, Sarasota Florida 34236; office: 941.951.1800, toll free: 877.951.1800, facsimile: 941.366.1603; email: jrd@jrdlaw.com
Michael P. Fleming: They offer all types of real estate
services. You can contact them at
Houston: 10333
Richmond Ave-110 | Houston, TX 77042 | 713-978-7784 | Fax: 713-978-6451
Woodlands: 19221 I-45 South-300 | Conroe, TX 77385 | 281-296-9544
| Fax: 281-681-0711
Dallas: 5068 W. Plano Parkway, 3rd Floor, Ste 388 | Plano,
Texas 75093 | Toll-Free: 1-888-TEX-JURY (1-888-839-5879)
Schecter Law, P.A.: They offer help in all types of real estate issues. You can
contact them at 100 North East 3rd
Ave, Suite 620 - Fort Lauderdale, Florida 33301 - Telephone: (954) 779-7009 -
Facsimile: (954) 779-3388.
Levy Law: They deal with construction and real estate law. You can contact them at phone: (206) 626-5444; 600 University Street, Suite #3300, Seattle, WA 98101; e-mail: info@levy-law.com.
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