Whether buying your first home, looking to move, or even downsizing, choosing the right real estate attorney can be tricky and time-consuming. However, this can often be overlooked in the hectic home buying process.
Considerations to remember to make sure you choose the right real estate lawyer.
Experience. How many real estate transactions does this company make per month on average? One year? Who else besides your lawyer is in the office that you could work with (clerks, other lawyers), and what is their experience?
Focus. Your real estate lawyer should focus primarily on residential real estate. Try to find someone who spends at least 90% of their time working in residential real estate instead of commercial real estate.
Availability. Your attorney and their offices must be there for you when having questions or concerns, and they must respond to your inquiries on time. They must also be available to sign your closing documents. Always be sure to state your expectations regarding accessibility clearly.
Belonging. Your Roanoke attorneys at law must be affiliated with and registered with your mortgage lender or bank.
Good reputation. Must be working in good standing with the Law Society. When you need assistance, you can reach the corporation directly to check or view their catalog.
Write it down. Like any other document you sign or read when buying a home, this one is no different. Make sure your lawyer provides you with a written proposal for your real estate transaction, including any additional fees that may apply.
Online presentation. Since most if real estate transactions are closed electronically, make sure your lawyer is licensed by the government (or the government of the province where you will be buying property) to close your transaction electronically.
Storage of documents. Speaking of electronics, your attorney should keep all your transaction documents electronically. In this way, they ensure that your records are never destroyed or lost and are available to you should you need them.
Title insurance. Make sure your lawyer can obtain and arrange title insurance for the deal.
While this list is long, one thing that has yet to be intentionally left out is the price. Most people like to go with an attorney who quotes the lowest fees. If you focus on price, other more important factors can easily be hidden, leading to legal consequences for you in the future. Price should be the deciding factor only when all other factors are equal, and the price is the only differentiating factor.