Real estate attorneys are responsible for ensuring the legal transfer of property from seller to buyer is legitimate. Real estate attorneys take on a lot of tasks, such as preparing and looking over legal documents, making sure that the title is clear, and clearing the way for the transfer of funds. However, the exact duties of a real estate attorney can differ depending on what you are using them for. For instance, are you hiring an attorney as a seller or lender? Continue reading to learn more about the duties of real estate attorneys.
Duties of a Real Estate Attorney
A real estate lawyer from lulich.com, for example, can take care of real property transactions. When a party purchases real property, they don’t need to appear in court. Instead, your real estate attorney will take care of preparing all documents that have to do with your home purchasing. Your attorney will also handle the contract and agreements with the seller. The title and transfer of all documents will also be taken care of by your real estate attorney.
It is possible that your attorney may be present for the closing. Another duty of a real estate attorney is to make sure that there are no incomplete liens or claims against the property. If any issues occur during this process, your attorney can handle them.
Hiring a Real Estate Attorney
Making the decision to hire a real estate attorney will depend on your location in the U.S. Different states have different laws. For example, some states may require only a notary to handle a certain task, while in other states a real estate attorney is needed.
Real estate attorneys are required in states such as Delaware, Massachusetts, and New York. Certain transactions can only be handled by an attorney. In other states such as Louisiana, North Dakota, and South Dakota, an attorney is needed to provide an opinion on the title. This shows that an attorney has looked over the title abstract and doesn’t see any barriers in the real estate transaction.
Furthermore, your mortgage lender may even require you to hire a real estate attorney only for particular steps in the process.
Real Estate Attorney Costs
Depending on the actual services you need, the costs for a real estate attorney will vary. Additionally, real estate attorneys bill differently. It is possible for your attorney to charge you a flat fee or an hourly fee.
Real estate attorney fees are typically paid when you pay your closing costs. Your loan estimate documents will reveal this information. While this is an estimate only, the fees can change depending on your legal needs and the attorney you choose to hire.
How to Find a Real Estate Attorney
Here are some tips you can keep in mind when looking for a real estate lawyer to hire:
- Experience: The real estate attorney of your choosing should have hundreds, if not thousands of real estate transactions under their belt. They should also have a few years of experience so they can give you the right guidance during the process.
- Honesty: Most attorneys offer free consultations. You should use this to your advantage to help choose the most suitable attorney. Many people can determine a person’s character several minutes after interacting with them. Ask as many questions as needed to help you make a sound decision.
- Check Reviews: There are many resources you can take advantage of online, some of which provide attorney reviews. Reading reviews can help you decide whether an attorney is the perfect match for you.