DO YOU NEED A REAL ESTATE ATTORNEY?
T
here’s nothing wrong with trying to minimize the money you spend on investment to maximize your profit. However, there are some crucial things you should consider spending on if you don’t want to lose your investment. One such thing is a real estate attorney. Perhaps you hold the ideology of doing everything yourself without involving a third party. However, when it comes to real estate investing, such an ideology can be catastrophic. Hiring a real estate attorney can cost you thousands of dollars, but it’s worth it. If you’re still wondering whether to hire a real estate attorney or not, you should consider the following reasons why you need one:
FOR CLARITY
Before you sign any document in your dealings, you must understand every word and phrase in it. Otherwise, you may just be signing your trouble. However, there may be some legal terms you can’t understand in the documents, not because you’re not smart but because you’re not an attorney. The job of your attorney, in this case, will be to go through the document on your behalf and ensure that you understand everything stipulated therein. Some terms or phrases may mean something ordinarily but can mean another thing from a legal perspective. Your real estate lawyer is a professional in the field; thus, they’ll ensure the terms are well defined to you before you agree to get into the contract.
EXPERIENCE
Perhaps this is not your first real estate 52
l
dealing. However, even with that, you can’t be more experienced than a real estate lawyer. They must have handled more real estate deals than you’ll ever get into in your lifetime. They understand the state and local laws. Your experience may only be restricted to your deals, but for a real estate attorney, they’ve dealt with multiple clients and handled a variety of properties. Therefore, if you want to mitigate any risks that could result in delay or jeopardize your investment, you must seek the legal support of an experienced real estate attorney.
PROTECTING
A real estate attorney will be actively involved in the negotiation process. You can allow them to handle the negotiation process fully. That way, not only will you be saving yourself time and stress, you’ll also be protecting yourself and your family. Doing it yourself can land you in trouble. A real estate lawyer, on the other hand, is skilled and can walk you through the complications of estate investment. They’ll also protect and safeguard you from troubles you cannot foresee yourself. With an excellent legal counsel, you can put your mind at rest, knowing verily that your investment is safe and protected.
SAVINGS
Many have lost their life savings to fraudulent dealings. Often, such people are those with the “I can do it myself” ideology. In the name of minimizing the amount spent, they end up losing their entire investment. Thus, to avoid losing your investment, you may want THE POWER IS NOW MAGAZINE | NOVEMBER 2020
