Posted on: 23 December 2020
Buying and selling real estate is often a complicated process. When you are either buying or selling, it's usually in your best interest to hire a real estate lawyer. A real estate lawyer is one who specializes in real estate law and knows the ins and outs of both buying and selling property from a legal perspective. If you are in the process of either buying or selling, hiring a real estate lawyer is a good idea. Here are three things that you should know.
When To Hire One
Hiring a real estate lawyer is not always a requirement, but there are a few situations where you should seek out one's services. If you are buying a home, you should consider seeking out a real estate lawyer if the home you are looking to buy is a foreclosure, short sale, or in a disaster-prone area. If you are selling, you'll want a lawyer if there are issues with your property, if you are selling as part of a divorce, or selling off the estate of a deceased loved one. You'll also want to use a real estate lawyer when selling or buying a commercial property.
It May Be A Requirement
Real estate law varies from one state to the next. Depending on the purchase or sale you are looking to make, a real estate lawyer's services may be a requirement. When financing a property, your lender may also require that you hire a real estate attorney. Even if your state or lender does not require that you use a real estate lawyer, their services can provide peace of mind on your real estate transactions.
How Much It Will Cost
Another thing that you should know when hiring a real estate lawyer is how much it will cost. This will depend on the services you require, as well as your lawyer's rates. Location can also play a role in your lawyer's fees. Most real estate lawyers charge by the hour. However, for some services, there may be a flat fee. On average, you can expect to pay between $150 and $350 per hour for the services of a real estate lawyer.
If you are considering hiring a real estate lawyer, there are a few things to know. First, there are many situations where hiring a lawyer is going to be in your best interest. In some cases, your state or lender may require that you hire a real estate lawyer. The cost will vary, but most real estate lawyers charge between $150 and $350 per hour.Share