Real estate professionals today have plenty of investment opportunities. Real estate sales as an industry holds over a $160 billion market value at the moment. Professionals in both residential and commercial real estate are building careers on the backs of these property sales and acquisitions. If you make transactions regularly, you need a real estate legal services firm that you can work with.
Start building a relationship with a real estate law firm to add protection and insight to your career
Create a list of about a half-dozen estate lawyers in your city or county. Go through the checklist and make sure that they're bar certified and have at least a decade of real estate law experience. From there, you can consult with them and see if they fit your real estate investment needs.
Real estate attorneys often charge on a per-transaction basis. These lawyers also charge based on percentage, by the hour, a flat rate, and on a retainer.
Get the attorney to draw up some standard leases and other paperwork
Real estate legal services are useful for creating custom paperwork. You can always purchase pre-made contracts, but writing binding agreements from scratch is always in your best interest. These kinds of contracts protect your company's specific needs. A real estate lawyer will not only draw up the paperwork for you but will also ask you several questions along the way. This process ensures that you're getting the level of protection you require.
Getting custom legal paperwork such as a lease agreement can range in cost depending on the terms and level of work required. Your lawyer will keep several copies of this paperwork and can draft updates when necessary.
Stay up-to-date with changes in real estate law
Like all areas of law, real estate legal policy changes all the time. Issues on both the state and federal level affect the real estate market and your career as an investor.
Every state constantly updates the real estate laws they hold on the books. For instance, the state might institute new measures involving rent control, the eviction process, and environmental requirements. Your real estate attorney can keep you in the loop and will alert you when a law passes that could potentially affect the way that you do business.
Retaining legal services is your best bet. Let these tips guide you toward the professional real estate legal service you need.Share