If you’re moving to Texas or, sadly, leaving Texas – chances are you are buying or selling a Texas home. Be sure that you are up to date on the laws pertaining to real estate transactions.
Selecting A Good Texas Real Estate Attorney
Real estate is a unique asset, and the legal issues touching real estate can be correspondingly unique, not to mention high stakes. Real estate is usually the single largest asset that most Americans own. Nevertheless, some will feel disinclined to spend thousands of dollars on a lawyer and will try to save money by hiring a cheaper or less experienced attorney.
Do not be penny wise and pound foolish. Whether you are a buyer or a seller, you would be wise to invest in smart, experienced counsel to ensure that you can avoid potential pitfalls. And if you’re in a state where lawyers are a mandated part of a real estate transaction, as is the case in Texas, you will have no choice but to hire one to help you structure and close the deal.
In the absence of an agreement to the contrary, the seller may become liable to pay a brokerage commission even if a sale does not occur, or to pay more than one brokerage commission. If the agreement allows the seller the right to negotiate on his or her own behalf, for example, you may avoid this problem. A lawyer can explain the effect of multiple listings. He or she can negotiate the realtor’s rights if the seller withdraws the property from the market, or can’t deliver a good marketable title.
The seller should have the advice and guidance of an attorney with respect to a brokerage agreement. Even if the agreement is a standard form, its terms should be explained to the seller and revised, if necessary. An attorney should also determine if the agreement was properly signed.
The Benefits Of A Real Estate Lawyer When You’re Buying A Home
Your Lawyer Will Review Your Contract
Legal jargon can be tough to understand. Worse, you might be encouraged to sign a contract quickly, without taking the time to read all the way through it and make sure you understand everything it says. By working with a real estate lawyer, you can ensure that you understand all the terms of your contract. If it’s a contract that’s not in your favor or that has a problem that could come back to bite you later, your lawyer will let you know. Buying a home is a huge purchase and a big personal life step. You want to make sure that your contract is to your benefit!
Your Lawyer Will Make Sure Everything Moves Smoothly
Are you buying a property out of town? Looking at commercial property? Buying a property in a flood zone or where other natural disasters are a normal part of life? If so, working with a lawyer will help ensure that everything moves smoothly throughout the process. Your lawyer will be your representative when you can’t be there and your advocate when you can. That extra fee is more than worth the reassurance that your home purchase will move smoothly.
Picking the Right Real Estate Lawyer in Texas
When buying a home, picking the right professionals to work with is every bit as important as picking the right home. A good real estate lawyer makes the road to closing much smoother. Each lawyer fits into one of two groups: litigators (who handle lawsuits), and transaction lawyers (who work out contract matters). Be mindful that not all property lawyers handle the same issues. Those who represent landlords, contractors, developers, and financial institutions may not represent homebuyers looking for help on their P&S; agreement.
Web Research
Search directories on the Web for lawyers in your area who handle real estate matters. Most attorneys list on their site what their practice areas are, and how much of their time they devote to litigation and/or contract matters (i.e. 70% litigation). Before making contact, you’ll want to know what their background is. Guide your search by asking yourself questions at each step — How long have they been practicing? Do they have much experience with real estate matters? Is real estate one of their specialties, or just a practice area they list on their site but have little experience with? Is it a big firm, or a sole practitioner? Have they ever worked as a real estate broker?
Contact your state bar association or go to their Web site to find out if the lawyer is in good standing, or has any recent or previous reprimands. Look on the Web for any articles, FAQ or other informational content they authored. Is it insightful? Does it give you a level of comfort with their knowledge of the subject area?
Personal qualities
You will want to meet and speak with the lawyer a couple of times before deciding whether to retain their services. After dealing with them a few times, ask yourself these questions: Was it easy to reach them by phone or email? Do they return calls in a timely manner? Are they juggling a lot of cases, limiting the time they can consult with you?
You want to have a good personal rapport with any lawyer you hire. Don’t forget to ask for references, so you can talk to people who can vouch for the lawyer’s skills and trustworthiness (or lack thereof). Ultimately, you want to find a responsive, effective lawyer with experience in the real estate world.
Questions to Ask a Texas Real Estate Lawyer
When choosing an attorney to help you with your real estate matters do not just choose the first one you come across. Attorneys differ in their price, experience, and specialties. When picking an attorney to think about which one that best fits the type of legal work you need assistance with. For example, if you need to a lawyer to help you with something not so complicated, like closing on a house, you might not need the best, most experienced attorney in the business.
To help you choose the one that is right for you, here are a few questions to ask a prospective attorney to help you evaluate him or her.
- How long have you been practicing? Not only do lawyers who have been in the business for a while have more experience, but they also tend to ask more pay. Consider your case and what type of legal assistance you think you need. If you are dealing with a simple closing, chances are you do not need the best lawyer money can buy. If you think that you are going to be in the middle of a tough legal battle, though, you want someone who is going to really fight for you.
- Who will work on my case? Depending on the size of the firm and the importance of your case, a junior partner or a paralegal may be doing the bulk of the work on your case. Asking this question will help you determine who it is that you will really be dealing with.
- How do you charge for your services? This is always a good thing to determine before you start a professional arrangement. This way you can avoid being surprised by things that you did not know you were paying for.
- How long do you foresee the legal work for this case taking? It is possible that a long drawn out legal battle is not something that you feel is worth your time and money.
- Exactly what services would you provide? This is a good way to evaluate what you should be getting for your money.
- Can you provide me with any references for people you have handled with cases like mine? The best way to get the real scoop on any professional is talking with one of their past clients.