Hiring a real estate attorney for your closing can cost you between $800 and $1,000. However, these costs may vary depending on the attorney’s experience and your location. It doesn’t matter if you’re a home buyer or seller, you should consider hiring a real estate lawyer to protect yourself.
Don’t know how or when to hire a real estate attorney? We’ve got you covered. We’ll give you the ultimate guide to get the best outcome when closing a sale or purchase of a home.
Read on for your closing 101 guide to hiring the right attorney today!
Closing 101: Your Guide to Hiring the Best Real Estate Attorney
So you signed the purchase agreement to sell or buy your next home. You may think the worse is over, but now it’s time to close on the house.
You may be able to close on your home without hiring a real estate lawyer. However, you should consider consulting a legal expert during this process. Believe it or not, finding the right attorney for your closing is easier than you think.
Here are the steps you should follow to hire the best real estate lawyer for your closing today.
1. Search Online for Real Estate Attorneys
It may seem like a no brainer but, the first step is searching online for “real estate lawyers near me” and other similar terms. You may also ask your real estate agent, mortgage company or friends for recommendations.
Consider legal firms that specialize in the type of property you’re buying or selling. An example is how you should contact firms such as Fernald Law Group when you are closing on a commercial property.
2. Schedule Initial Consultations with Several Lawyers
You may have found several firms that specialize in real estate transactions. You should schedule several initial consultations to learn about their fees and services.
3. Hire a Lawyer for Your Closing
While it may be tempting to choose the cheapest option, you should prioritize hiring a lawyer that specializes in your type of real estate transaction. Don’t forget to take a look at the agreement for their services before signing it.
When to Hire a Real Estate Attorney
Depending on your location, you may not need to hire a lawyer to close on your home. In some cases, hiring a legal expert is a must to protect yourself.
Not sure when? Here are some situations when you should prioritize hiring a real estate attorney.
- The property is in a state where the presence of an attorney at closing is mandated.
- You’re buying an out-of-state property.
- The property being sold has judgments or liens.
- You’re buying a commercial property
Can You Hire the Best Real Estate Lawyer for Your Closing?
You can hire the best real estate lawyer for your closing, but only if you do your homework. Before hiring an attorney, you should search online and write a list of potential legal experts who specialize in real estate closings. Remember commercial sales aren’t the same as residential.
You should consider lawyers who close the type of property you’re buying or selling. While hiring a legal expert isn’t necessary in some cases, you should consider the situations and the right time when to hire a real estate attorney.
Believe it or not, hiring a real estate lawyer may be mandatory in your closing. If you’re unsure, you should consult your real estate agent or a local attorney to make sure you’re following the local regulations.
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