How To Hire A Real Estate Attorney?
If you are not sure what important a role a real estate lawyer often plays when buying a house, you better read on. Bunking on the hiring, you may miss out on help that you may need. However, you must take care to hire the lawyers who are capable enough to deal with the situation.
Buying a home is likely to be the highest financial transaction for most home buyers. The sheer amount of money involved makes the buyers, particularly the first timers as they are not very sure about the complexities involved. There are several issues that need to be taken care of during the purchase process:
* Drafting/ Reviewing the contract
* Inspection of property
* Ordering and reviewing the title search
* Resolving title issues
* Ordering and reviewing the survey
* Resolving survey issues
* Co-ordinating with the mortgage broker and lender
* What happens at closing
* Taking title to the property
* Review of the HUD-1 Settlement Statement
* Closing the mortgage loan
* Post-closing activities
An average home buyer who is not trained in legal issues will find it hard to deal with these. The best course of action for them will be to hire a lawyer who specializes in real estate. He/she will save you from making mistakes, errors in documents and other problems that could prove expensive later. But there is a cliché. You need to pick up the right lawyer or he/she will not be able to deliver.
You cannot reach the right lawyer through a phone book or an advertisement. But you can certainly discuss the matter with your friends/acquaintances who are in the real estate. They can give you some tips about a suitable lawyer. You can also take the route of attorney referral services to find them. Referral services that specialize in real estate attorneys screen the lawyers, on their list, for appropriate qualifications and experience. You can ask the referral services about a particular lawyer's qualifications and background, and they will provide you with it. You can also check with your state's Bar Association for referrals. Local realtors' association can also recommend lawyers to you.
When you have shortlisted lawyers from all your sources, prepare yourself to interview them on telephone or in person, though a face-to-face meeting is always better. Be prepared with a list of questions you wish to ask. You must ask them whether they charge per hour or handle the deal for a fixed price. You could also ask them how much time they would take looking over contracts, handing disclosures and post-closing activities etc. Make a list of all those questions that are of concern to you and carry that list along with you on your appointment. It will ensure that you do not miss on any important area. The final consultation will help you decide on your real estate attorney.
The recommended process of hiring a lawyer is same, your place of residing in America notwithstanding. Whether you are looking for estate planning lawyer Virginia, or in any other state, just follow the given process to pick up the right lawyer.
It is essential, for obvious reasons, to hire an able real estate lawyer when you are buying a house, whether it is new, foreclosed on or on short sold. A goof up may prove expensive, even getting you entangled in legal issues. You could keep yourselves clear of any such issues if you are just a bit careful when hiring a lawyer.
Buying a home is likely to be the highest financial transaction for most home buyers. The sheer amount of money involved makes the buyers, particularly the first timers as they are not very sure about the complexities involved. There are several issues that need to be taken care of during the purchase process:
* Drafting/ Reviewing the contract
* Inspection of property
* Ordering and reviewing the title search
* Resolving title issues
* Ordering and reviewing the survey
* Resolving survey issues
* Co-ordinating with the mortgage broker and lender
* What happens at closing
* Taking title to the property
* Review of the HUD-1 Settlement Statement
* Closing the mortgage loan
* Post-closing activities
An average home buyer who is not trained in legal issues will find it hard to deal with these. The best course of action for them will be to hire a lawyer who specializes in real estate. He/she will save you from making mistakes, errors in documents and other problems that could prove expensive later. But there is a cliché. You need to pick up the right lawyer or he/she will not be able to deliver.
You cannot reach the right lawyer through a phone book or an advertisement. But you can certainly discuss the matter with your friends/acquaintances who are in the real estate. They can give you some tips about a suitable lawyer. You can also take the route of attorney referral services to find them. Referral services that specialize in real estate attorneys screen the lawyers, on their list, for appropriate qualifications and experience. You can ask the referral services about a particular lawyer's qualifications and background, and they will provide you with it. You can also check with your state's Bar Association for referrals. Local realtors' association can also recommend lawyers to you.
When you have shortlisted lawyers from all your sources, prepare yourself to interview them on telephone or in person, though a face-to-face meeting is always better. Be prepared with a list of questions you wish to ask. You must ask them whether they charge per hour or handle the deal for a fixed price. You could also ask them how much time they would take looking over contracts, handing disclosures and post-closing activities etc. Make a list of all those questions that are of concern to you and carry that list along with you on your appointment. It will ensure that you do not miss on any important area. The final consultation will help you decide on your real estate attorney.
The recommended process of hiring a lawyer is same, your place of residing in America notwithstanding. Whether you are looking for estate planning lawyer Virginia, or in any other state, just follow the given process to pick up the right lawyer.
It is essential, for obvious reasons, to hire an able real estate lawyer when you are buying a house, whether it is new, foreclosed on or on short sold. A goof up may prove expensive, even getting you entangled in legal issues. You could keep yourselves clear of any such issues if you are just a bit careful when hiring a lawyer.
