Should you have a friend or family member who is an attorney handle your real estate transaction?
Before you can decide the answer to that question, you’ll need to consider this: Real estate attorneys in New York City perform a job which is generally performed by a title company in other states. In addition, they are tasked with the supplementary role of preparing a contract. In other states, the real estate agent will use a pre-printed form which has been drafted by their state’s association of Realtors.
When choosing an attorney, it’s important to select a professional whose sole focus is real estate. If the attorney you’re thinking of hiring does anything that involves the word “court,” run for the hills! That is not the attorney that you want.
"Bad attorneys kill deals."
The second thing to consider when selecting an attorney is the level of experience and support they can offer you. You should expect your contract to be sent out within six hours of them receiving the deal sheet. You should never work with an agent or lawyer who doesn’t have a well-established practice.
In fact, buyers who offer less for a property but are working with a more established, more well-known professional may still have the upper hand in competitive situations. Bad attorneys kill deals.
That being said, there are a number of great attorneys here in New York City that we work with. When you work with us, we will recommend six choices to you. The attorneys we can recommend to you will vary in what they charge. However, most quality attorneys will fall within a similar range.
One kind of attorney you must absolutely avoid is one who charges an unreasonably low rate. An extremely cheap attorney will not provide you with the level of service you need and deserve.
Ultimately, who you work with matters. Be careful not to hire someone to assist you in your transaction before considering these points.
If you have any other questions or would like more information, feel free to give me a call or send me an email. I look forward to hearing from you soon.