Real Estate Hiring Qualified Professionals - Buyer
Choosing the right professionals to represent and guide you is very important.
1. Should perform work in a timely manner- Many Real Estate deals can be lost if the Attorney does not review Contracts promptly.
- Minimum: Contracts prepared or reviewed within 3 business days
- Better: Contracts prepared or reviewed within 2 business days
- Cory A. Levine, P.C.: Contracts prepared or reviewed within 1 business day
2. Should be an experienced Real Estate Attorney- An experienced Real Estate Attorney will be best at resolving important issues amicably, creating solutions quickly and protecting clients. An experienced Real Estate Attorney's familiarity with the some of the other professionals involved (including the other Attorneys, Lender and Real Estate Agents) is also very helpful. An Attorney who is very active will probably have the strongest relationships.
- Minimum: Experienced in 1,000 real estate closings
- Better: Experienced in 2,000 real estate closings
- Cory A. Levine, Esq.: Experienced in 6,000+ real estate closings
3. Should be a "Transactional" Attorney- A Transaction Attorney will be more focused on amicable solutions. Avoid an Attorney who seems litigious or whose primary source of income is from litigation.
- Cory A. Levine, P.C.: Is a "Transactional" law firm
4. Should discuss issues prior to your appointment to sign Contracts. This way time is saved and you don't have to make another appointment if there are issuesthat the attorney needs to examine. New or forgotten questions can still be asked later but it is best to resolve as much as possible early.
- Cory A. Levine, P.C.: Encourages that all issues be discussed promptly.
5. Should be familiar with the area of the subject property
- Cory A. Levine, P.C.- Frequently performs closings in Putnam, Westchester and Dutchess
6. Should send a copy of the Fully Signed Contracts to your Lender and Real Estate Agent. A Real Estate Transaction should be a "team" effort and your Attorney should be willing to work with all of your professionals. The Real Estate Agent is usually instrumental in initiating and structuring the transaction. Having a copy of the Contract helps your Agent to assist you throughout the transaction. The Lender will need a copy of the Contracts for your Mortgage Application. This will save time and extra work.
- Cory A. Levine, P.C.: Sends copies of fully signed Contracts to Mortgage Lenders and Real Estate Agents promptly
7. Should order a Title Search from a local Title Company immediately. A local Title Company will be more familiar with the nuances of the area that you are buying in or issues that might not appear in a customary Title Search. Some Attorneys might wait until you have written Mortgage approval, but then you are 4-6 weeks behind.
- Cory A. Levine, P.C.: Orders a Title Search from a local Title Company when fully signed Contracts are received.
8. Should be comfortable and work well with Mortgage Lenders. This will allow the transaction to go smoother. Additionally, such an attorney might help avoid unnecessary "red flags" in your Contracts. An Attorney who also customarily represents Lenders as well will be even more familiar with the process involved.
- Cory A. Levine, P.C.: Has represented over 30 Lenders.
9. Should be properly staffed with professionals who are familiar with Real Estate. Ask if the staff is familiar with Real Estate. Avoid Attorneys who seem understaffed or whose staff will be unable to answer many of your Real Estate questions.
- Cory A. Levine, P.C.- The entire support staff does Real Estate
10. Should encourage you to ask questions and returns phone calls promptly. You should not be expected to be an expert in this field. The right professional will recognize that your questions will lead to a smoother transaction.
- Cory A. Levine, P.C: Strongly encourages questions and returns calls promptly
1. Your Loan Officer (not just the Lender) should be active in the area. The biggest problems in most transactions are related to the Loan Officers who are not
active in the local area. Locally active Loan Officers are generally more accountable and responsive because they depend on the local area for their business and their familiarity leads to fewer mistakes.
- Minimum: Experienced in 150 loans in the local area
- Better: Experienced in 300 loans in the local area
2. Avoid Internet Lenders- There have had many problems with these types of Lenders.
3. The Lender should be familiar with the area of the subject property
4. The Lender should encourage you to ask questions
5. The Lender should return phone calls promptly
Inspector: Will point out potential problems in the premises.
1. Should be experienced with the area that you are interested in. Every town has different nuances and code requirements. In some areas, certain issues can be a concern whereas they might not be in other areas. Home inspections are not an exact science so experience goes a long way.
- Minimum: Experienced in 150 inspections in the local area
- Better: Experienced in 300 inspections in the local area
2. Should encourage you to ask questions and provide advise during inspection. There is a lot that you can learn about the home if you ask questions. The Inspector could also provide advise as to how much of a life span certain items have and what to be careful of in the future.