A lot of people looking to invest in property are unaware of the importance of getting legal assistance for the process and this can prove harmful. The difficult to understand the language of the documents in addition to the huge amount of money involved in such transactions make it necessary to know about real estate lawyers and the value they can provide while conducting a deal. In this article, some key points are being discussed for the benefit of people thinking of hiring real estate lawyers.
1. Start Your Search Early
One of the most common mistakes committed by people is that they start looking for a lawyer only when they have selected an asset for purchase/sale. This results in a hasty decision which can have serious repercussions on the deal and to prevent this, the search for an able legal professional must begin at the time when they start looking for the asset.
2. Ask For Recommendations From Colleagues
Friends and colleagues who have carried out such transactions in the recent past can be approached for recommendations about attorneys that they had hired but it will be wise to first establish the similarity between your deal and theirs. Ask these people about key issues like the professional’s ability to find loopholes in any agreement or his/her expertise in drafting a lease deed. You can also approach professional organizations in your area who keep details of such practitioners for guidance on the issue.
3. Ensure That The Lawyer Has Requisite Experience
Another key information to know about real estate lawyers is the amount of experience they possess in providing in the type of matter in which advice is needed. Hiring an attorney who has not dealt in similar cases can cause problems when the transaction is finalized and it will be wise to ensure that the chosen person is well versed in the legalities related to the matter at hand.
4. Check The Qualifications Of The Professional
Real estate laws and their interpretation can be full of complexities and for making the correct selection it is essential to ask about the qualifications of the practitioner. A lot of professionals do certificate courses in the field of real estate and in most places authorities allow lawyers to classify themselves as real estate Law firms in India provided they have the necessary certification. Any individual possessing such qualifications will be ideal for your requirements and it will be wise to hire them.
5. Use Free Consultation For Assessment
A lot of legal firms or attorneys offer a free consultation which can be availed for assessing the various qualities of the professional.No specific advice on the matter will be given during the free session but you can get an overview about the knowledge and expertise of the individual in property related matters. You should definitely ask for the credentials from the individual and avoid anyone who is hesitant or does not furnish the requested information.
6. Specialization Of The Lawyer
Real estate lawyers provide counsel on issues related to commercial and residential property, leasing, purchase or sale of an asset, property tax and various other matters. The wide range of issues makes it pertinent to opt for an attorney who specializes in the category in which your matter falls. A professional who has dealt with similar cases in the past will be more efficient in providing assistance and closing the matter successfully.
7. Knowledge About Compliance Regulations
There are a number of regulations related to issues like environment, zoning and insurance that affect any property transaction and the attorney being hired for providing counsel needs to have comprehensive knowledge about all such matters. Do some research of your own and then ask related questions to measure the awareness of the professional about compliance regulations.
8. Do A Thorough Background Check
Ensure that the person has a valid license for practicing law in the area apart from conducting a thorough check of the background. Ascertain that the person in question has never been accused of any malpractice or punished for any misdemeanor by approaching the local bar association or other groups that provide such information.
9. Understand The Terms Of Service
Most senior lawyers depute their juniors to prepare the paperwork and a client should ask about this right at the beginning and identify the person who will work on the case. There may be some other terms listed in the formal retaining letter or contract and go through each point before signing the document.
10. Assess The Fees Payment Structure
Find about the fees of the lawyer apart from any other expenses that may be required because of the nature of your case. Many professionals charge on a case to case basis while others bill their clients for the hours they work for them. Enquire about the fees payment structure and also about any additional expenses that may be required because of the nature of your case.
Conclusion
All these points are necessary to know about real estate lawyers as they can be used as guidelines for conducting the process for searching competent and reputable professionals who can provide wise counsel on any property related issue.
