“Real estate is at the core of almost every business, and it’s certainly at the core of most people’s wealth. In order to build your wealth and improve your business smarts, you need to know about real estate.”
Donald Trump, Think Like a Billionaire
This is so true about real estate, but we all can’t be expert in making the right decisions when investing in real estate and thus hiring a lawyer becomes an important aspect of real estate investments.
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You have finally made the decision to invest into real estate. Are you buying or selling your house, getting a new office space for your business and lots more. Hiring a real estate lawyer will go a long way in making your investment a success. However, not all those individuals who move around in brown wig and black gown can be the best at handling your real estate documents. Good people are rare to find so as Good real estate lawyers are rare to find.
1. Lawyer Reputation
The lawyer personal reputation is arguably one of the best distinctions to make the right decision. Avoid lawyers with bad reputations, relationships with clients particularly in the area of investments. A Lawyer with a bad reputation is definitely a turning off point and can put your investment at greater risks.
Find out if your prospective lawyers have previous experience in real estate field. Who are his previous clients and how was the outcome of his dealings with them are all instances you should watch out for before hiring a real estate lawyer.
His level of availability should be a major concern because a real estate deal can come up at any time and he should be readily available to show up and and spend his time for you as well. Your lawyer is not supposed to work for everyday of the week but they should be available when you need them. Avoid hiring a lawyer who entrusts any type of assignments to his secretary so you wouldn’t end up signing the wrong sections.
4. Team and Resources
The right team is a step closer towards attaining good results. You should ask your lawyer about the people he is working with, his companions as they all contributes to his overall reputation.
5. Cost of Service
Good legal services can be expensive. Identify all your terms of working so that things will be clear for both of you. Negotiate with him and assure him you will pay enough money in exchange for his legal services.
A Good real estate lawyer automatically becomes a part of your decision making process as regards real estate investment. They become your friends who you can confide in should there be problems or negotiations with your real estate investment in the future. The following questions will help you decide whether a lawyer is fit enough to be your real estate lawyer.