10 Factors to Consider When Choosing a Real Estate Attorney
BYCORY A. LEVINE, ESQ. Choosing the right Real Estate Attorney is important. It is not uncommon for issues or questions to arise during the closing process and the right Real Estate Attorney will protect you and provide guidance.
You should look for a Real Estate Attorney who:
1. Performs work promptly.
A good Real Estate Attorney will help prevent delays. You may lose a transaction if contracts are not prepared or reviewed promptly.
Minimum-Contracts are prepared or reviewed within 3 business days
Better- Contracts are prepared or reviewed within 1 business day
Cory A. Levine, Esq.- Contracts are prepared or reviewed within 1 business day or less
2. Is experienced in real estate.
A good experienced Real Estate Attorney will protect you and help create solutions.
Minimum- Experienced in 1,000+ real estate closings in the local area
Better- Experienced in 5,000+ real estate closings in the local area
Cory A. Levine, Esq.- Experienced in 10,000+ real estate closings in the local area
3. Is a "Transaction" Attorney.
A good "Transaction Attorney" will be more focused on amicable solutions. Avoid an Attorney who seems litigious or focuses on litigation.
Minimum- Practice is partially real estate and other transactions
Better-Practice is mostly real estate and other transactions
Cory A. Levine, Esq.- Practice is mostly real estate and other transactions
4. Is familiar with the local area.
A good local Real Estate Attorney will have a better understanding of local practices and nuances.
Cory A. Levine, Esq.- Practice focuses on the lower/mid-Hudson regions
5. Communicates well with your Real Estate Agent & Lender.
A good Real Estate Attorney work effectively with your other professionals and encourage a "team" effort. This will save you time and extra work.
Cory A. Levine, Esq.- Works well with Real Estate Agents and Lenders.
6. Promptly orders a title search from a local Title Company.
A good Real Estate Attorney will order a title search promptly and use a local Title Company (who will be more comfortable with local nuances or issues). Many non-local Attorneys order title searches from non-local Title Companies.
Minimum- Title is ordered from a Title Company within a week of Contracts being fully executed
Better-Title is ordered from a local Title Company immediately upon Contracts being fully executed
Cory A. Levine, Esq.- Title is ordered from a local Title Companyimmediately upon Contracts being fully executed
7. Is comfortable with Mortgage Lenders.
A good Real Estate Attorney is familiar with Mortgage Lenders. An Attorney who often represents Lenders can help avoid unnecessary "red flags" in your Contracts and help you create productive solutions.
Minimum- Attorney works with Lenders
Better- Attorney represents Lenders
Cory A. Levine, Esq.- Representsmany Lenders
8. Is properly staffed.
A good Real Estate Attorney will have an office staff experienced with real estate. Avoid Attorney offices who seem understaffed or whose staff will be unable to help or answer your questions.
Minimum: At least one staff member who is familiar with real estate
Better: At least one staff member who is dedicated to real estate
Cory A. Levine, Esq.-Entire staff is dedicated to real estate
9. Has active primary Attorney involvement.
A good Real Estate Attorney will be actively involved in your transaction, communicate directly with you, and be the Attorney at your closing. Many firms have minimal lead Attorney involvement and some have a junior associate attend the closing.
Minimum- The primary Attorney shares Attorney contact for the Client, reviews Contract changes made by staff, and is available if another Attorney attends the closing
Better-The primary Attorney is the main Attorney contact for the client, negotiates Contracts directly, and attends the closing
Cory A. Levine, Esq.-Is the main Attorney contact for the client, negotiates Contracts directly, and attends the closing
10. Encourages questions, has a cohesive office & returns e-mails/calls promptly.
A good Real Estate Attorney will not expect you to be an expert in Real Estate. The right professionals will recognize that your questions are productive and will lead to a smoother transaction.
Minimum- Questions are answered, and clients are advised if questions are to be directed to another staff member
Better-Questions are answered promptly, and emails are forwarded internally if questions are to be directed to another staff member
Cory A. Levine, Esq.-Questions are highly encouraged and answered promptly, and all staff has access to every email for better cohesion