Should I get a Real Esta Attorney in my area

14 Replies

I looking to invest in out of my area. Is it a good idea to get a RE Attorney in that area of investment or one where I currently live at?

Originally posted by @Javier Rosales :

I looking to invest in out of my area. Is it a good idea to get a RE Attorney in that area of investment or one where I currently live at?

If you're going to invest in any heavily populated area, pay for a consultation on landlord-tenant regulations if you're looking to keep and rent. If you're looking to fix and flip and you're not in a really big city like NYC, LA or Chicago, you probably don't need a real estate attorney for that.

 

@Jacob Sampson I need an attorney to have them review my RE purchase and sale agreement contract, and my independent contractor Agreement contract. And if their legal to use or need to make adjustments

@Mike Wade I need my contracts to be reviewed and adjusted if need be. To be used in Bakersfield Ca. How would an RE Attorney assist with purchasing?

Originally posted by @Javier Rosales :

I looking to invest in out of my area. Is it a good idea to get a RE Attorney in that area of investment or one where I currently live at?

Laws are local so your Real Estate attorney should be local. 

It's easy to believe that hiring a professional just means another fee you have to pay before you can actually start investing in your investment. However, spending money on good legal help can help you save money in the long-run. A personal legal representative can help you mitigate or avoid the lion's share of the closing costs on your new property. They may help you avoid going into your personal pocket to pay closing costs altogether, and the benefits of hiring an attorney come clearly into focus once the complexity of the closing process sets in. This is particularly true in my home of Chicago, Illinois, where closing costs average higher than many other places in America.

Additionally, as mentioned above, laws are so specific to the area that if you are unfamiliar with the local regulations, you are best off consulting a professional.

Deals I made in New York, Ohio, Illinois all used attorneys to close deals.. Michigan I used title company, Oklahoma abstract company which I think is another word for title company..

Anyone who does enough investing and who is serious does have an attorney or several attorneys so they can call them when needed. You will likely need them at some point. If you have a property manager in that area they will be able to refer you to an attorney when you need one. They will handle any eviction type of attorney issues.

Originally posted by @Wendy Patton :

Anyone who does enough investing and who is serious does have an attorney or several attorneys so they can call them when needed.  You will likely need them at some point.  If you have a property manager in that area they will be able to refer you to an attorney when you need one.  They will handle any eviction type of attorney issues.

Wendy is very knowledgeable. She is also a well received REIA educator and travels the country speaking to groups such as mine.

If you don't have an attorney let me know and I will help you get one.

 

Originally posted by @Javier Rosales :

I looking to invest in out of my area. Is it a good idea to get a RE Attorney in that area of investment or one where I currently live at?

 You never need an attorney until you really need an attorney. Then you will wish you always had one.  My experience is that in RE transactions, attorneys always make your life better.....in every other area of life the amount of contact you have with attorneys is directly proportional to how miserable you are.

Especially investing out of area. Rules and laws change. Get an attorney. At least ask your Realtor if attorneys are customary in the area. They will know. Some areas it is all attorney and some are rarely attorney.