You don’t get up and make the decision of buying a home every now and then unless you are a residential real estate investor. Of course, whether you are a residential or commercial real estate investor, you will require someone to guide and assist you on all the legal ends of every deals and transactions.
While there are many competent real estate lawyers out there, you should know that not all of them offer the same level of service and ingenuity in their legal advices. Making the wrong decision when buying or selling a property can result in incurring unbearable losses.
What’s the Job of a Real Estate Lawyer?
As far as the above question goes, the answer is “no”. Asaf Izhak Rubin explains that working with any real estate lawyer is different from working with another because not all carry the same level of experience, skills, expertise, qualities, and personality traits.
As Asaf Izhak Rubin suggests, the real job of a real estate lawyer is to ensure that their clients are on the same page with the ongoing legal processes when buying or selling a property. They cater to the needs of their clients after comprehending what their clients really want.
For example, after learning that you are looking to invest a threshold of your financial savings in a profitable commercial real estate, your real estate lawyer will deal with certain aspects. They will provide legal advice on several properties as to which one might be the most profitable, suitable, and safe for investment.
Further, they will deal with all the necessary legal paperwork and documentation that goes on in the background of a real estate deal. In a nutshell, real estate lawyers are the bearers of guidance and support to their clients at every step of a real estate transaction or deal.
How Do They Help?
They are knowledgeable and possess the necessary skills of operating in the real estate market. Why that matters? Well, we will get onto that later with the help of Asaf Izhak Rubin. When it comes to dealing with the legal formalities, forming contracts, handling drafts, and reviewing authentic documents, real estate lawyers can do all of such tasks on your behalf.
Difference between Seasoned and Fresh Real Estate Lawyer
Onto the big question: is a seasoned real estate lawyer different from a fresh (i.e. rookie) real estate lawyer? Well, the answer is always a big “Yes”. According to Asaf Izhak Rubin, here are the most important factors that differentiate between the two.
Level of Experience
First and foremost, only a seasoned real estate lawyer may qualify as the most suitable professional to handle series of different real estate matters. As such professionals carry the expertise and experience of dealing with similar cases over and over again throughout their career, there is a low chance that may not have encountered or solved any real estate matter.
On the other hand, a fresh real estate lawyer will carry little to no experience of operating in the real estate market. Although both types of real estate lawyers may have the same level of education, it is the level of practice they put into work that puts one ahead of the other.
Legal Fees Structure
For one, the starting fees structure for the legal services of a real estate lawyer is always low. It is because of the level of experience as we discussed above. A real estate lawyer will not only help you with legal advices but provide an extensive range of guidance and support in real estate matters.
What makes the difference is that that level of services varies with the level of experience. Hence, a seasoned and more experienced real estate lawyer will demand and charge a higher fees/hourly rate.
Not only that, you have to keep in mind that their level of expertise may be higher which makes their fees reasonable. On the other hand, low fee structures of a fresh real estate lawyer will depict a low expertise and quality of legal service.
Going with a seasoned real estate lawyer is always the best approach because they not only carry the required experience and expertise but also charge reasonable fees in return for their impeccable level of services. Depending on the level of legal real estate services that your require, it can become quite easy for you to determine whether you should work with a seasoned real estate lawyer or a fresh one.