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How A Real Estate Attorney Can Help You
 
Finding A Real Estate Attorney : Selling
By J. Fernandez

There was a time in the not-so-distant past when using a real estate agent to sell your home was virtually a necessity. Back then realtors had informational power - they had the information, and you had no way of getting it. Thanks to advances in technology such as the internet, this is no longer the case. Many home sellers are forgoing realtors, and their 7 percent commissions, and saving thousands of dollars in the process. You can do it too!

But that doesn't mean you couldn't use a little help. Hiring a real estate attorney is a very good investment in protecting your interests. While many people are apprehensive about working with lawyers, the reality is that there isn't much for you or your wallet to fear. Real estate attorney services are more affordable than you might think, and a good lawyer can save you thousands of dollars in the long run.

Finding the Right Attorney - First, Look For Experience

Start your search with your friends, neighbors, and family members. Ask if anyone has used a lawyer for real estate purposes. If not, still ask if they know a lawyer who they trust and use for other matters. Many lawyers specialize in multiple areas of law, so you might be able to use a recommended attorney for your real estate needs. Don't be afraid to call and ask.

Barring a good recommendation, start with your phone book. A lawyer who specializes in real estate should have that listed in his or her ad. Jot down the names of all the real estate attorneys that you find, and be prepared to call them all.

Most legal professionals offer free consultations. Take advantage! Call at least three lawyers and make appointments to see each of them. Before you go in for your consultation, take some time to assess your needs. Do you have a good handle on the paperwork and you simply want someone to go over the purchase agreement? Or perhaps you want someone to be with you each step of the way. Make a list of your expectations so that the lawyer can quote you an appropriate price tag.

How Much Should I Expect to Pay?

This is a tricky question, because the answer depends on your personal needs. When you meet with each attorney for your free consultation, lay out your plan. List in detail all of the tasks that you'll need performed. Ask him or her for the hourly rate that they usually charge, and then ask them how many hours they estimate that they'll need to complete your project. This will give you a ballpark figure to work with. Repeat this procedure with each attorney that you consult. The prices could vary a lot, but you should probably expect to spend somewhere between $150 and $800. By contrast, the commission for using a realtor to sell a $250,000 home is around $17,500 - and whose services do you think are really worth the money?

Even though you'll get a few different price quotes, you won't want to choose your lawyer based on price alone. If one quoted you a low price, but seemed too brusque for your tastes, you might want to go with someone a little pricier who you felt comfortable being around. Lawyers are just like any other group of people. You'll find some you get along with and some you don't. Don't be afraid to keep interviewing attorneys until you find one that you like. Remember, this is a big decision - don't get help from someone that you don't like and trust.

Ask The Right Questions

Many lawyers who specialize in real estate have done sales like yours hundreds of times. Don't be afraid to ask your lawyer for advice along the way. Chances are, they've seen similar problems or issues before. Just be aware that you may be charged each time you pick up the phone and take some of your attorney's time. You can feel free to ask your lawyer how she feels about fielding questions. Is it okay to pick up the phone and ask? Maybe he'd prefer you to make an appointment. Remember that the more you ask questions, the less mysterious the whole process will seem.

Once you find your new real estate attorney and strike up a rapport, you'll wonder why you ever hesitated to call. It makes it so much easier to go through the process of selling your home when you have someone to rely on.

Last Update: Jul 18, 2006

 

 
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