While buying or selling real estate, you have to complete a lot of legal formalities. A lot of legal complexities are involved in real estate transactions; for instance, a person who wishes to buy a property should ensure the said property has a clear title and is not included in any dispute or litigation.
There could be many other situations where the advice of a legal professional becomes imperative. Whether you wish to buy or sell a property, rent out a feature, or want to get into real estate investing, you must consult a real estate lawyer before you proceed with the transaction. You can either consult solo attorneys or top legal firms in India.
What Does a Real Estate Attorney Do?
A real estate attorney should be able to help you with all the legal issues concerning a real estate transaction, such as zoning issues, ordinances, environmental concerns, etc. They also assist you with contracts, lease deeds, loans, and many other related problems.
A real estate attorney will also be able to help you in establishing your own real estate business and assist you in discharging your duties as a property owner. Homebuyers and sellers often depend on lawyers for a variety of reasons related to real estate transactions. Real estate investors or those in property management businesses need the services of a real estate attorney more frequently.
Questions to Ask a Real Estate Attorney
Whether you are an investor or just another home buyer or a seller, proper legal advice is necessary before you complete a transaction. A real estate attorney, along with your property agent, plays a crucial role in the transaction. He/she not only helps you in identifying a property but also safeguards your interests.
You should never proceed with any real estate transaction before you have an attorney by your side. However, it would help if you were careful in choosing an attorney so that you have the right person to advise you. There are a few questions that you must ask prospective attorneys before making your decision.
How Many Experiences They Have?
One important attribute that you must look for in a real estate lawyer is experience. It is good to know about the experience of an attorney because experience counts a lot when you have a complicated transaction at hand.
However, you must realize that experience comes with a price, and you may have to pay more for an attorney who has significantly more experience than someone relatively new to the profession. It would help if you also asked which particular area of real estate law they specialize in. It also helps to know for how many years they have been practicing in your state. Jurisdiction laws vary from jurisdiction to jurisdiction.
Have They Worked on Similar Cases in the Past?
Every real estate transaction is different, and different laws apply to different situations. It will be to your advantage if you can find a lawyer who has experience of dealing with situations similar to yours as he/she would understand beforehand potential issues that may arise in your case. It would help if you asked about the details of the previously handled cases of similar nature as yours, and the strategy they propose to employ in your case.
Will They be Readily Available When Required?
There will be many instances in business dealings that would require immediate intervention. Some deals are time-sensitive, and if not dealt with within a specified time frame, they might lapse. If the lawyer can’t be reached on time, you may find yourself in real trouble.
It is quite reasonable for you to expect your attorney to be able available to attend to your call when required. It would help if you had a dedicated attorney, as you never know when there could be an emergency.
Generally, the bulk of the work in real estate transactions are done by paralegals, and therefore, you should know how much time the lawyer would be devoting to your case. Top legal firms in India have specialized teams for different areas of law, and therefore, shouldn’t have any problem in spending their time on your case.
What Would are Their Fees?
Knowing at the outset how much a lawyer would charge for the services rendered can help you avoid any controversy at a later stage. Some lawyers charge hourly fees, whereas some others charge a flat fee.
The charge may vary depending on the nature and complexities of the deal. Those who charge hourly fees may also ask for a retainer upfront. Price is an essential factor, and you must not hesitate to negotiate the lawyer’s fees.
CAN THEY PROVIDE REFERENCES?
Talking to real estate attorneys first up gives you an understanding of their experience and professionalism. However, you can get further insight if you speak to others whom they have worked with before. So ask for references for another real estate professional or their former clients. Their response to such questions will give you an idea about their confidence level concerning their job.
There are many questions to ask real estate lawyers while making your choice. Still, ultimately it is your comfort level in working with them that is paramount, whether it is a solo practitioner or top legal firm in India.