A real estate attorney can be a valuable partner when buying or selling property. But is one always necessary? Definitely not. Though real estate lawyers can certainly help provide legal advice, resolve disputes, navigate complications, or even just provide general guidance, they're not right for every transaction.
A real estate attorney is someone who is licensed to practice real estate law, meaning they have the knowledge and experience to advise parties involved in a real estate transaction, such as a home sale.
Inarguably one of the "hot" areas of law, real estate law has recently become a very attractive choice for law students and established attorneys looking to switch practice areas. We talked to real estate attorneys in various situations to see what this field can offer you.
Real estate attorneys often start off doing something else. Possibly this is because real estate law is a natural compliment to many other legal specialties - from international corporate law, to divorce law, to environmental law.
Buying a home is probably the biggest investment you'll ever make. In addition to hiring a real estate agent to help negotiate the transaction, you might consider a real estate lawyer to guide you through the legal process. Real estate attorneys specialize in matters related to property, from transactions to handling disputes between parties.
Many states require a real estate attorney be present at closing. Even if your state does not require one, you might want a real estate attorney to be there for you. A real estate attorney will represent your interests at closing. They will review all paperwork in advance and advise on any problems or omissions with the documentation.
Most real estate lawyers charge an hourly fee for services, although some charge a flat rate. The lawyer will tell you up front. Typically, the range is $150 to $350 per hour, or a flat fee of $500 to $1,500.
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