Whether you want to sell a home, buy into a co-op, or invest in a commercial property across the globe, an attorney can serve as a powerful advocate in a real estate transaction. You may already be working with a real estate agent, and their insight is crucial to any sell or purchase. However, they are not licensed to give legal advice or answer legal questions, and property sales often require many legal considerations.
For example, if you want to determine whether you can get a deposit back after canceling a purchase contract, a real estate agent can only draw your attention to the terms of the contract and explain what usually happens in such situations in their experience. However, they cannot provide assurance that you will get the deposit back or advise you to file a claim against the other party for reimbursement.
For the best possible outcome in any real estate transaction, as the buyer or the seller, finding the right New York real estate lawyer is imperative. At Avenue Law Firm, our lawyers have extensive experience in real estate law, ensuring a smooth and successful transaction for our clients. You need someone experienced, trustworthy, and dedicated to protecting your interests, including understanding the condominium closing costs for purchasers. With so many strong candidates out there, it can seem overwhelming to explore your options, but there are certain tips you can keep in mind during your search. Contact us at (212) 729-4090 to schedule a consultation and discuss how our experienced lawyers can assist you.
Why Would I Need a Real Estate Lawyer?
It’s common for real estate transactions to seem straightforward at first, only for the parties involved to quickly realize that they face more complex issues than they originally expected. Whether you’re buying or selling a home, investing in commercial property, or relocating to a new area, the local real estate market is likely to pose challenges you’re not equipped to address on your own. If you want to complete your real estate transaction legally and with confidence, you need to secure legal counsel you can trust.
While real estate agents are responsible for helping their clients make informed decisions in their real estate transactions, there are some situations in which you cannot rely entirely on your real estate agent’s advice. They may be compelled to omit important details due to their professional requirements, and they may not know how to explain certain legal challenges a transaction could pose to the parties involved.
A real estate lawyer can effectively fill in these gaps, helping their client make a more confident decision with their transaction. Real estate attorneys specialize in helping their clients resolve their real estate transactions effectively. They can uncover potential challenges in the earliest stages of a transaction and help their client make informed decisions as the case unfolds.
How to Evaluate a Real Estate Lawyer
If you want to take full advantage of the benefits that legal representation can offer in your impending real estate transaction, you need to know the qualities you must evaluate when choosing a real estate attorney. The right attorney can have a tremendous positive impact on your experience with your transaction, helping you save money when possible and ensuring you make a fully informed decision:
- Professional credentials. The American Bar Association maintains a robust database containing directories of attorneys across the country. Take time to research a potential lawyer and use online resources to verify their credentials and qualifications. You should check an attorneys’ accreditation and any special certifications they have earned, and you should also verify they have not been subject to disciplinary action in the past.
- Experience. How long has the attorney been practicing real estate law? While many new attorneys are talented, enthusiastic, and eager to help their clients with difficult real estate transactions, there is no substitute for solid experience. Before agreeing to a real estate lawyer’s representation, make sure they have significant experience handling cases like yours.
- Availability and responsiveness. Real estate transactions are often complex processes, and you need to have legal counsel you can rely on to provide ongoing support and guidance. Find out what a potential attorney’s caseload looks like and how much time they can dedicate to handling your case. You should also verify how you can get in touch with your attorney and how often to expect updates on your transaction’s progress.
- Communication skills. The real estate transaction you’re preparing to face could be a life-changing experience. When you meet with a potential attorney, do they seem interested and respectful toward your stated goals and needs? A good real estate lawyer should be able to quickly identify the challenges and opportunities a potential client faces and help the client address these issues effectively.
- Market familiarity. Every real estate market is unique, and you need an attorney who has experience specifically dealing with the market in which your transaction will unfold. For example, if you’re buying or selling real estate in New York City, the area is one of the most volatile real estate markets in the country. You need a real estate lawyer who has been immersed in the local real estate market for many years. They should hold a keen understanding of the market trends and local legal issues that are most likely to influence your case.
Many attorneys who offer representation for real estate transactions offer potential clients low-cost or free initial consultations. Taking advantage of consultation offers is a great way to interview potential attorneys and find the right one for you. During your consultation, ask the potential attorney questions to help you evaluate the aforementioned criteria, and think of additional questions specific to your situation.
Factors That Affect Attorney Fees in NYC
The complexity of real estate transactions is variable and can be a factor in the attorney fees you will need to pay at closing. For pre-existing condominium units, co-ops, or homes, the attorney fees can be as straightforward as the transaction itself. Buying a property with cash is simpler since there are fewer documents for the attorney to review and this can make the attorney fees significantly lower.
However, for purchases such as a luxury new development, buying through a corporate structure, purchasing distressed properties, or properties that have title issues, the cost of the legal fees can be higher. This is because of the additional level of complexity that the lawyer may have to review or handle.
Most real estate attorneys do not charge an hourly fee. Most charge a one transaction fee, half paid at hiring and half upon closing. Buyers are often reluctant to have a lawyer present early to answer questions regarding a possible purchase. However, it is important to have the skilled advice of a legal professional from the beginning of a transaction.
Although you can get a cheaper price working with an attorney individually or in a non-specialist firm, it may take longer to prepare documents or receive a callback. When deciding which firm or attorney to hire, make sure you consider the cost of the service and the quality you want. This is especially important for complex or time-sensitive transactions.
The real estate lawyer fees NYC buyers have to pay are one of the smallest closing costs associated with an NYC purchase. Avenue Law Firm may be able to help you understand what costs you will have to prepare during closing. Call us today to schedule a consultation.
Signs of a Bad Attorney
Not every client-lawyer relationship proves fruitful. Though infrequent, clients may experience difficulties with their attorneys, making it essential to recognize potential warning signs. The following indicators might suggest that it’s time to consider changing your lawyer:
- Insufficient communication: Your calls go unreturned for over 48 hours, updates on your case are scarce, or your lawyer is often unavailable at the office.
- Disorganization: You’re asked to complete identical forms multiple times and your lawyer’s scheduling issues result in late submissions.
- Neglecting your best interests: Your lawyer persistently seeks court extensions without valid reasons, and you receive notices of lapsed filing deadlines, giving the opposing party an edge. Even with the option to appeal, your lawyer fails to clarify these oversights or effectively manage your case.
- Delayed or absent documents: Your lawyer might be preoccupied with other matters or forget to prepare your documents entirely. Although paralegals can help, this shouldn’t lead to delays.
- Conflicting interests: You learn that your lawyer has a personal relationship with the opposing party, which may jeopardize your case due to potential bias. This practice is prohibited to protect clients from prejudiced treatment.
- Disputes with your lawyer: Client-lawyer conflicts can take various forms, including disagreements over undisclosed fees, poor scheduling habits, carelessness, or negligence.
- Finding a more affordable and qualified option: If your lawyer’s fees impose financial stress, it might be time to search for a more cost-effective alternative. Lawyers are ethically bound to charge reasonable fees and cannot demand excessive payments, particularly when their workload is minimal.
What to Expect from Your Real Estate Lawyer
Finding the right attorney to help you with your real estate transaction offers several substantial benefits. First, you will have experienced assistance in conducting your due diligence, helping you avoid unexpected surprises and streamlining your entire transaction. You can rely on your legal team to help you thoroughly research the property you’re planning to buy or gathering documentation you need to produce to sell your property.
If you’re purchasing real estate as an investment, your legal team will help you uncover any legal issues that might interfere with your plans, such as liens from previous owners and zoning conflicts. You can also depend on your real estate attorney to help you through closing, contract review, and many other components of your transaction. Consider your choice to hire a real estate lawyer as an investment into the success of your transaction that allows you to approach the situation with confidence and reassurance.
Ultimately, the right real estate attorney can help you approach your transaction with peace of mind and confidence. The Avenue Law Firm has years of experience guiding clients through difficult real estate transactions in New York City, and we can apply our experiences to your case. If you’re ready to discuss legal representation for an upcoming real estate transaction of any kind in New York City, contact the Avenue Law Firm to schedule your consultation with our team.
Whether you want to sell a home, buy into a co-op, or invest in a commercial property across the globe, an attorney can serve as a powerful advocate in a real estate transaction. You may already be working with a real estate agent, and their insight is crucial to any sell or purchase. However, they are not licensed to give legal advice or answer legal questions, and property sales often require many legal considerations.
For example, if you want to determine whether you can get a deposit back after canceling a purchase contract, a real estate agent can only draw your attention to the terms of the contract and explain what usually happens in such situations in their experience. However, they cannot provide assurance that you will get the deposit back or advise you to file a claim against the other party for reimbursement.
For the best outcome in any real estate transaction, as the buyer or the seller, finding the right real estate lawyer is imperative. You need someone experienced, trustworthy, and dedicated to protecting your interests. With so many strong candidates out there, it can seem overwhelming to explore your options, but there are certain tips you can keep in mind during your search.
The Work of a Real Estate Attorney
Real estate lawyers are legal professionals who deal with real estate properties. These attorneys deal with a variety of legal issues and prepare and review documents related to real estate properties. These documents include title documents, purchase agreements, deeds, contacts, and mortgage documents. Real estate attorneys also handle cases that involve misrepresentations or non-disclosure of defects connected to the purchase or sale of a property.
Real estate lawyers may be able to handle closings which usually happens with the purchase of property from another individual or company. These lawyers are also able to help the client avoid issues when it comes to buying properties such as disclosure issues, and tax concerns. It is very important to seek the help of an experienced real estate attorney so you can make the most out of your real estate purchase or sale and avoid making costly mistakes.
Avenue Law Firm’s New York City real estate lawyers provide advice to clients regarding the sale or purchase of a real estate property. Our firm may be able to help ensure that property transfers are documented and binding. We may also be able to help make sure they are recognized by the courts. Contact us today to schedule a consultation with a skilled real estate attorney.
How Do You Find a Good Real Estate Lawyer?
When you’re ready to begin a real estate transaction, the first step in finding the right attorney is to do your research. You can start by asking friends, family members, neighbors, or colleagues for recommendations or getting a referral from your real estate agent. The internet is a vast resource with a wide variety of lawyers to choose from, so this is where you will find most of your information. You can search online directories for local lawyers who specialize in real estate, make a list, and start checking out their websites. Looking at reviews helps you achieve a more well-rounded perspective of their services by reading how other clients have felt about their experience with the lawyer and if they would recommend them to others.
What to Look for in a Real Estate Lawyer
Now that you have a list of potential candidates, your next step is to set up one-on-one consultations to interview each lawyer in person or on the phone. During your conversation, focus on the following factors:
- Education and CredentialsYou can learn about a lawyer’s education and credentials by searching for their name online. The American Bar Association maintains different attorney directories for each state and updates them regularly. Entering their name into Google along with your state can help you find their bar license number, which you can use to obtain information about their accreditation and whether they have been subjected to any type of disciplinary action during their career.
Lawyers are also licensed in specific areas, which means you need to ensure that they specialize in real estate law to ensure they can handle every aspect of your case. It’s important to note that education may be an indicator of competence, but it doesn’t guarantee success. Every case has different needs, and some lawyers will inevitably have more relevant experience than others when it comes to your unique situation.
- Respect and Compassion – Selling or buying a property can be a significant milestone, and you need respectful and compassionate legal representation as you navigate this process. A good lawyer will actively listen to your concerns, answer your questions with honesty and transparency, and demonstrate empathy. They should be prepared to explain the law and how it relates to your situation so you understand the potential outcome of your case and what to expect at every step. They should also be realistic about the strengths and advantages of your situation so you can make the right decisions.
The best lawyers will make you feel heard, understood, and comfortable. If the lawyer doesn’t seem like they are truly listening to you or valuing your opinion, it might be best to look elsewhere. Remember, you are the one interviewing them. Their focus should always be on pleasing the client. At the end of the interview, you should be confident that they care about you, want to help you, and will do anything in their power to deliver the optimal outcome in your case.
- Top-Notch Communication Skills – A substantial portion of a lawyer’s time is spent communicating, so this should be one of their most impressive skills. When a lawyer communicates well, they know how to make complex concepts clear and can answer your questions in a way you can understand. This is important whether you are looking for someone to help you buy or sell property, draft some legal documents on your behalf, or represent you in court. If there are any major issues during your case, you don’t want them to occur because of problems with communication or a misunderstanding of legal language.
To avoid misunderstandings and keep you both on the same page, your lawyer must speak clearly and concisely. The right lawyer has excellent verbal and written communication skills and can share a message openly and honestly even when the subject is uncomfortable to deliver. They also know how to use emotions appropriately in different situations and understand professional social boundaries. Additionally, communication is a two-way street, so they must be not only well-spoken but also show a willingness to listen.
- Good Judgment – Most people know it’s important to be cautious when choosing a lawyer. They must be skilled as well as offer good judgment. Lawyers can show they have good judgment by having a history of successful cases and an established reputation in the legal community. When other attorneys and judges respect them and take their opinions seriously, it will help every aspect of your case.
There are other ways to tell whether a lawyer has good judgment, such as speaking with them about their values, checking references from former clients, and discussing how they approach cases like yours. Be sure to ask them questions, too. It’s important that you feel comfortable with the lawyer so they can provide you with the best representation possible. Good judgment is something that can’t be faked, so if you find a lawyer who seems to have it in spades, you’re on the right track.
| Factors to Look for in a Real Estate Lawyer | Description | Importance |
|---|---|---|
| Education and Credentials | Lawyer’s education, credentials, and accreditation | Ensures competence, indicates professional standing |
| Respect and Compassion | Lawyer’s ability to listen, empathize, and communicate with respect | Builds trust, supports client’s emotional well-being |
| Top-Notch Communication Skills | Lawyer’s ability to communicate clearly, concisely, and effectively | Facilitates understanding, minimizes misunderstandings |
| Good Judgment | Lawyer’s history of successful cases, reputation in the legal community | Demonstrates competence, earns respect and credibility |
Questions to Ask a Real Estate Attorney
It is crucial to find and hire a competent real estate attorney who possesses the necessary knowledge and skills to handle your specific needs. Mere claims of being a real estate attorney do not guarantee their capability to provide the assistance you require. Before entering into an attorney-client relationship, it is vital to ask the attorney relevant real estate law questions to ensure they are the right fit for your situation. Here are some examples of questions to ask:
- Are there any unfavorable clauses in the contract?
Inquire about the presence of contingency clauses that may require specific actions from either party by certain deadlines. It is important to review these clauses to ensure they align with your schedule and negotiate extensions if necessary.
- Do you see any issues with the property, such as title restrictions?
Seek the attorney’s opinion regarding any potential red flags or concerns related to the property’s title. This could include restrictions or liens that might affect the sale and require resolution before closing.
- How much will my closing costs be?
While exact closing costs are determined on the closing day, ask for an estimate to get a general idea of what to expect. It may also be possible to negotiate with the buyer to cover a portion of these costs.
- Do you foresee any legal issues that may arise from this purchase?
Request the attorney’s assessment of potential legal complications that could impact your intended use of the property. This could involve issues with tenants’ rights, Department of Buildings violations, or other legal concerns that may affect your plans.
- Can you walk me through the offering plan/bylaws/Rules & Regulations?
Depending on the type of property you are purchasing, there may be relevant documents such as offering plans or bylaws that require careful review. Ask the attorney to guide you through these documents, pointing out important details or any potential areas of concern.
By asking these relevant questions, you can ensure that you are well-informed and receive proper guidance from your real estate attorney throughout the purchasing process. At Avenue Law Firm, our experienced New York real estate lawyers are well-equipped to handle all aspects of your real estate transactions. We understand the importance of clear communication and transparency, which is why we encourage our clients to ask questions to gain a comprehensive understanding of their legal rights and obligations. Contact us to be your trusted partner in securing your real estate goals, and let us guide you every step of the way.
Discuss Your Real Estate Transaction with Avenue Law Firm
When it comes to finding a lawyer who is right for you, it can be challenging to narrow down your options. If you’re looking to buy or sell property in the future, contact Avenue Law Firm today. Our experienced, award-winning real estate lawyers provide comprehensive, compassionate, and dedicated legal representation to clients throughout New York. We are diligent in protecting your interests and can help you navigate even the most complex issues with ease and confidence. Speak with our team today to advance your real estate journey.
