Some states require attorneys to be involved in residential real-estate transactions, especially when closing or settlement is required. Note how I said that some states require and not that you must have a realty lawyer. The majority of states, according to real estate lawyers, are called “non-attorney”. These states don’t consider conducting real estate closes the practice or law. So you don’t have to hire a lawyer. The rest of this country resides either in “attorney” states or states that require the participation or a combination of real estate attorneys for certain areas or the entire closing. A good real-estate lawyer will be able to save you time and hassle.
Licensed and in good standing. Many states have websites where you can verify whether the realty lawyer you are looking at is licensed.
Experienced. A recommendation from a friend or relative can be the best form of advertising. It is possible that someone you know has been happy with the service of a realty attorney.
Real Estate Savvy. This is an area of expertise. Every midwife may be capable to handle a simple birth. However, not all lawyers are capable of closing simple transactions. In California and other non-attorney states, most people don’t even use lawyers for residential deals. It would help if you could see the outcome of your transaction from the start. Because most of us can’t predict the future, you will need a lawyer that is well-versed in real property law.
Your local laws. It is vital that the realty lawyer you hire has a good knowledge of local ordinances and rules. This can have a significant impact on how smooth your deal flows.
They are someone you can trust. Hire someone you don’t like or trust. What good will it do if she isn’t trustworthy? Or if you have a hard time talking to them? A real estate transaction doesn’t require brain surgery. There are many skilled real estate lawyers who have pleasant personalities. You don’t want to hire someone who does not get along with others. Your lawyer will not only deal with you but also with your buyer. You want someone who will do the right thing while protecting your rights.
How can I tell if my state is an “Attorney?” State?
The easiest way is to log onto a website, such as [http://www.legalwiz.com/escrow.htm] which has a list. To find out more, contact your local bar association. It’s not an accident to use the word “local”. All real estate has a local element and all real estate laws have a local meaning get more info If your house lies in an “attorney-state”, adding a lawyer to your legal team is both prudent as well as necessary. You’ll need one eventually, so you may as well add him or her to your team.
Do I Need A Real Estate Lawyer In A “Non-Attorney” State?
If the house you wish to sell is in one or more of the non-lawyer states, you might need a lawyer to help you with any legal issues. However, it is not advisable to rush. In non-attorney states, closings typically take place via escrow. While they may not be your representative, the escrow agent can usually provide you with a lot of information and is obligated to adhere to the directions that you set up when the Escrow was created.
Hire a real-estate lawyer. She can be your second best player. From advising about the contract, title, inspection and handling the closing, to holding the earnest funds.
Remember: Real Estate lawyers are not dealmakers, even in “attorney-state” states. Their job it to ensure that the contract gets executed correctly. They may be involved in negotiations.
TIP: Some real estate lawyers receive a large portion of their revenue from the title company with which they work. It will be you, the seller’s responsibility to clear title. A real estate lawyer with a close relationship to a title company can be a benefit.