If you are looking to purchase a new home, invest in real estate, or sell real estate, you may be wondering whether you need to hire an attorney to assist you in this transaction. Since this is an expensive transaction, you may want to find ways to cut costs and avoid paying attorney’s fees. However, failing to hire a good attorney to assist you in the selling and purchase of real estate can end up costing you more money in the long run.

How can a real estate attorney help me?

Having an attorney on your side can be the difference between the closing process being smooth or being a nightmare. With an attorney, you will have an open line of communication with the attorney and his or her staff throughout the process.

Because an attorney will review your file every step of the way, it will be easier to resolve problems that come up while the closing is in process. Having an experienced attorney on your side means that you will have someone to advocate for your best interests should a problem arise.

Additionally, because attorneys are trained extensively in the law surrounding your transaction, you will have peace of mind in knowing that an attorney has reviewed all of the closing documents and has made sure that your title in the property is valid.

Purchasing Real Estate

Attorneys serve many important functions throughout the process of purchasing a new home or other real estate investment, including the following:

  • Examining the title to the property involved to make sure you will legally own the
  • property
  • Communicating with the lender, the seller’s attorney or agent, and all other parties
  • to the transaction
  • Making sure that all requirements and conditions of the contract are completed upon
  • closing
  • Making arrangements for title insurance coverage
  • Recording all deeds and other legal documents in the correct court jurisdiction

Selling Real Estate

If you’re in the market to sell real estate, you may have questions about the process. A real estate attorney will be able to help you in a variety of way, including:

  • Drafting and reviewing the sales contract
  • Negotiating the terms of the contract with the purchaser or their attorney
  • Reviewing the title report on the property to make sure you are able to sell the property
  • Correcting any concerns found in the title report
  • Reviewing the settlement statement prior to the closing

What fees will be charged?

Most attorneys charge a flat fee for residential real estate transactions. However, whether the fee is a flat fee or an hourly rate (which is required for most commercial transactions), if you use the services of an attorney, you will have the benefit of knowing ahead of time what fees you will be charged.

Most attorneys include an engagement agreement for their services outlining exactly what tasks they will perform and what the flat fee or hourly rate is. Remember, if you ever have a question about fees, feel free to ask your attorney for an itemized bill.

Do You Need Legal Help With A Virginia Real Estate Transaction?

If you need legal assistance with a Virginia real estate transaction you need to speak with an experienced real estate attorney as soon as possible. Contact us online or call our Virginia Beach office directly at 757.490.3500 to schedule your free consultation. We have offices throughout Virginia including Chesapeake, Newport News, Norfolk and Suffolk.

Scott Alperin
Experienced Estate Planning & Elder Law Attorney Serving Virginia Beach Area Clients Since 1994.
Thank you for pointing out that a real estate attorney can handle all of the legal documentation for you when you want to purchase a home. My wife and I want to buy a house together this summer, so hiring a real estate lawyer sounds like a great idea. I'm going to search for a reliable real estate attorney in the area that we can use.
by Conrad O'Connor March 29, 2022 at 08:09 PM
Thanks for pointing out that a real estate lawyer can help you with the legal documents that are involved in running a home. I want to buy my first house this ear, so I should probably hire a real estate lawyer. I'm going to look for a good real estate attorney in the area that I can employ.
by Jonathan Hansen January 20, 2022 at 04:10 PM
Thank you for pointing out that a real estate attorney can help you with the legal documents involved in buying a home. My wife and I want to buy a house this year, so we're thinking about hiring a real estate lawyer. I'm going to see if there's a good real estate attorney in the area that we can use.
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by March 12, 2020 at 05:07 AM
I appreciate that you highlighted that real estate attorney can make our lives easier by ensuring our property purchase or selling is smooth. Speaking of purchasing property, my aunt is planning to purchase a house two states away. I will suggest her to hire a real estate lawyer so that they can inspect the title and ensure the contract is in order.
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It's good to know that a lawyer can help ensure that everything is valid and will be prepared to resolve problems that come up trying to close the deal. My wife and I want to get a location for us to open up a small restaurant but don't know the process for buying business property. We should consider hiring an attorney to help us figure that out and feel confident in our decision.
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