Real Estate Agent · Port Huron, MI · Member since 2021 · 43 posts · 37 votes
Hello everyone, I'm looking to get some ideas on what you look for when you are looking for a real estate attorney. I'm looking for what questions to ask and how to know they are giving me the best advice. I am looking for the best way to protect a business that will be supplying the initial funds for the real estate investing company. I have been suggested the hub and spoke method but I want to see what the community looks for when it comes to finding their attorney. Everyone has been super helpful so far and I really appreciate the feedback I'm getting!
Hello Andrew. I'm a Texas attorney so I'm a bit bias. If you're seeking an attorney to protect your business, I suggest asking about anonymity, asset protection, and pitfalls. Since there's several aspects to real estate law, you'll want to ask what's their expertise in real estate? It could be residential, commercial, development, foreclosure, sales, LL/T disputes, transactional, litigation, do they do in house counsel, etc. Ask about attorney fees, paralegal fees, and other types of fees (hourly rate v. flat fee), whether they charge by the quarter ex. Some lawyers charge in 15 min increments, meaning you pay the full 15 mins even if you spend 2mins. You may also want to ask for references, or check their reviews. Lawyers are in some ways like teachers, they're drafting contracts, arguing in court, writing letters/memos/opinions, so it's ask them to explain the process of setting up a protection plan. Way your options with seasoned attorneys v. young lawyers. Seasoned attorneys may not always be up to date with new or amended law while young attorneys may not have enough experience. Best of luck to you.
Hello Andrew. I'm a Texas attorney so I'm a bit bias. If you're seeking an attorney to protect your business, I suggest asking about anonymity, asset protection, and pitfalls. Since there's several aspects to real estate law, you'll want to ask what's their expertise in real estate? It could be residential, commercial, development, foreclosure, sales, LL/T disputes, transactional, litigation, do they do in house counsel, etc. Ask about attorney fees, paralegal fees, and other types of fees (hourly rate v. flat fee), whether they charge by the quarter ex. Some lawyers charge in 15 min increments, meaning you pay the full 15 mins even if you spend 2mins. You may also want to ask for references, or check their reviews. Lawyers are in some ways like teachers, they're drafting contracts, arguing in court, writing letters/memos/opinions, so it's ask them to explain the process of setting up a protection plan. Way your options with seasoned attorneys v. young lawyers. Seasoned attorneys may not always be up to date with new or amended law while young attorneys may not have enough experience. Best of luck to you.
I love Texas! And thank you for all the great info. That defiantly gives me a great starting point for what to ask and expect. Thank you very much!