Newbie (how To Pick A Good Attorney)?
Hi,
I hope everyone is doing great today. I am a newbie and was wondering what you should look for in a Attorny. Should you go with the cheapest one or as the saying goes, "you get what you pay for". Any help with this would be great.
Jeff
You typically want to find an attorney who does 50% or more of his business in real estate - and ask him about the type of real estate investing you are interested in and make sure he is familiar and has done that specific type or types!
Good Luck
[addsig]
thanks a lot for the info. I am going to find an attorney today.
These days the yellow pp., under Attorneys, will show the kind of practice a lawyer has.
I've found that the biggest firms always have one to several lawyers who do lots of RE practice.
Not cheapest, but normally pretty decent, efficient & knowledgeable.
[addsig]
thanks again for the info. I appreciate it. This website is awesome.
Call the lawyer, say that you heard, or read, some good things about his or her practice, and ask what you'd have to do to get referrals to the three best attorneys in your area who have the expertise that you're looking for as related to real estate investing.
Now you should have the names of three more attorneys that you can call and get referrals from.
Keep
1. calling,
2. saying you heard something good and
3. asking for referrals
Until you start hearing the same names over and over again.
Schedule one-hour appointments with the top three candidates. Be prepared to pay for their time. They may be busy, so you should also be prepared to wait a few weeks for an appointment.
Introduce yourself and say:
4. you'll be happy to pay for his or her time,
5. you'd like to have a relaxed and candid discussion (you're probably scared and angry, but that and a dollar will get you a cup of coffee),
6. you've heard some good things about him or her and need more information to make up your mind and
7. You'd like to talk to him or her to discuss the possibility of handling your case.
Ask:
8. What legal areas do you specialize in?
9. How many years have you practiced this specialty for?
10. How much experience do you have with real estate?
11. What do you like about your areas of practice?
12. How many people are in your office?
13. What is your office known for?
14. How many people in your office handle real estate related matters.
Give a brief factual rundown of your case.
Ask:
15. What are the pros and cons of my case?
16. What would be the expected outcome? If it's bad, remember to point out that our cause hasn't been heard in Federal Court yet, which takes Constitutional protections more seriously.
17. How much do you charge?
18. How do you expect to get paid?
19. What's your schedule like?
After the appointment, evaluate each attorney.
20. Were you rushed?
21. Were you handed over to a junior partner?
22. How much experience does he or she have with real estate related matters.
The most important key is I research any real estate attorney to see how many real estate transactions they have done.
Here's a good Article on finding an attorney:
http://www.thecreativeinvestor.com/modules.php?name=News&file=article&articleid=552
I always recommend a well recognized and reputable firm. They have multiple specialties, including real estate, tax, estate planning and trusts, litigation (if needed), etc. It also communicates something about you. If you are represented by a heavy hitter it says that you are serious about your business. Don't take short cuts, because you will get what you paid for.
[addsig]
thanks everyone for the great info. I appreciate it. Good luck with everyone.
I have found that selecting my buyer broker was the most important choice I could make in the entire process, since he has directed me to excellent talent in the legal, title, and lending arenas. My advice is to first find a knowledgable broker, who can then help you in a myriad of ways.
Just another thought.