Having a reliable real estate lawyer helping you out is like having supercharged turbo engine inside your hood. You don’t always use it, but it feels exquisite knowing that it’s just there. When you are looking for value for all your real estate transactions, you need a good real estate lawyer to help you out. Even when the transactions are seamless, it contributes to knowing you can get legal advice. As the operations become more complex, legal guidance becomes particularly crucial, and you don’t want to entrust it to a lawyer you just met.
When it comes to dealing with lawyers, there are two important aspects that you must always consider: time and money. Although it may not take as long or cost as much as you imagine, think that the lawyer’s part in the transaction is not only technical. Their presence spells out efficiency too. Perhaps the only doubt that you might have of having a real estate lawyer with you is your fear of paying too much for something too little.
All real estate deals are detail-heavy. Unless you have the time in the world and the knowledge of all the property laws, then you should go to the document with your lawyer. They can help you understand what the purchase contract includes and make sure that everyone agrees and does what they’re expected to do. In particular, a real estate lawyer can help you by:
• Reviewing land titles to ensure that it is clean and that nobody can contest its validity.
• They register land transfer papers and settle mortgage for the land titles.
• They calculate outstanding fees including taxes and GSTs if applicable.
It is possible for non-lawyers to do these tasks, but most of them would not be sure where to start. Real estate lawyers deal with these every day. People go to them for they are meticulous. Their expertise and experience make hiring them truly a plus. It’s also important to note that legal assistance is required by banks before mortgage applications are processed and approved.
That summarizes pretty much where the lawyer spends most of his time. What about the money? How much do you need to prepare to pay a real estate lawyer up?
Most real estate lawyers charge for a flat fee rate instead of hourly. This is for the fact that bulk of the workload can be done by a paralegal or a legal assistant in the firm. The lawyer will spend his time talking with you and discussing the details on the legal documents on hand. Transparency is important in determining whether the cost of hiring a lawyer is efficient and economical. Expect fees to be within the range of $500-$2000. It’s not bad for the legal assistance provided for your convenience.
After all, you know you need the extra horsepower under your hood to get what you deserve and even get ahead of everyone else.