The Relevance of an Attorney in Your Real Estate Investment

A good attorney is valuable for every phase of the real estate investment process. From development to acquisition to management to disposal, an attorney can offer the advice that makes the entire process run smoothly. With the amount of legal paperwork mostly involved in the real estate business, an attorney can be very useful for a potential real estate investor.

Not only will an attorney make sure that all the documents with regards to legal issues are always ready, he will make sure that all documents are legally binding and in your favour. There is virtually no such thing as even deal. All deals favour one party over the other. Which side is favoured comes down to the paperwork. And the paperwork comes down to the attorney. So choose yours very carefully.

Find an attorney with an experience in real estate law and, if possible, one who has successfully structured deals similar to those you are pursuing. But be careful. Many people are intimidated by lawyers and tend to keep quit, not ask questions or let their attorney make decisions for them. Remember that you are the boss and your attorney is no different from your contractor or your accountant. A good attorney will let you make up your own mind while protecting you from mistakes. He will provide the legal backing and tools needed for the decision-making process and see that your interests are protected.

While attorneys usually work on an hourly basis, don’t hesitate to ask for flat fees for preparation of some of the more standard, definitive contracts. Your attorney knows how long these services take and shouldn’t balk at a flat fee agreement for them.