Did you know there are over 18 fields of law? You could work as a real estate lawyer if criminal or animal law sounds appealing. But what is a real estate lawyer, you ask? What are these lawyers' jobs?
The term probably sounds self-explanatory - a lawyer dealing with real estate matters. But that explanation doesn't explain what real estate lawyers do.
Below is a real estate lawyer guide that gives you an inside look at these attorneys' jobs. You'll also find a few helpful tips when finding the best real estate lawyer for your case.
So What is a Real Estate Lawyer's Job?
A real estate lawyer specializes in all legal aspects of a property transaction. Real estate lawyers handle home ownership legalities like buying and selling property, title issues, property compliance matters, and other disputes.
Real estate lawyers also ensure their clients understand the terms of their arrangements. A specific breakdown of real estate lawyer duties looks more like this:
- Identifying and clearing loans and liens against the property
- Helping to solve any property litigation matters
- Spotting and resolving deed restrictions
- Setting title insurance
- Reviewing real estate contractual agreements to help allocate funds
- Finding and prorating taxes and other obligations within the contract
- Preparing a buyer statement with listed funds and charges
- Helping with closing and hosting official sale documentation signing
- Ensuring both parties fulfill their end of the real estate arrangement
As you've read, real estate lawyers have a long list of duties. But perhaps the most critical job these lawyers perform is offering advice during the sale by owner process.
What to Know When Hiring a Real Estate Lawyer
One of the most critical real estate lawyer tips is to hire an attorney explicitly dealing with real estate issues. As we said earlier, there are over 18 branches of law.
A criminal law attorney likely can't solve your real estate problems as efficiently as a real estate attorney. Something else to note is some states require you to have a real estate lawyer for closing duties.
If you'd like a complete list of states, go here. Here's a brief list of states requiring real estate lawyers during closing:
- North Carolina
- South Carolina
- New York
- West Virginia
If you're not in one of the states listed, you could still hire a lawyer to assist with complicated taxing issues. A real estate attorney could also help avoid unfavorable contractual agreements for buyers and sellers.
Real Estate Lawyer Pricing
Hiring the best real estate lawyer depends on your needs. How much you pay depends on what you need your lawyer to do. Prices also fluctuate according to hourly rates and level of experience.
It's not uncommon to find a lawyer charging flat fees for minor transactional roles. Complicated title matters could see rates as high as $500 per hour. Reviewing a contract may cost a one-time fee of $500.
Where's the Best Real Estate Lawyer Near Me?
Hopefully, you won't be asking yourself, "What is a real estate lawyer?" with this helpful guide. Remember to look into attorney pricing when looking for a lawyer.
The most crucial real estate lawyer tip is finding an attorney who can help with homeownership issues. Monastra & Grater LLC is the right firm for the job. Contact us for assistance with real estate matters today.