Do I need an attorney for my commercial real estate deal, or is my broker enough protection?
Does a seller or a buyer of commercial real estate really have to hire an attorney? The unmistakable answer is, “Yes!”
A broker is a licensed professional who you hire to negotiate the sale or purchase of a real estate for a fee or a commission. However, they are typically not attorneys. Many of them will clearly state that real estate brokers are not providing legal advice. Real estate brokers don’t usually get paid unless they close the deal (or unless you are somehow obligated to pay a commission, for example, by withdrawing from a deal). Therefore, brokers are usually not going to take care of the legal details and may even try to push a deal to close as fast as possible.
Be sure that separate legal advice from a good real estate lawyer is usually worth the additional cost. It’s much more cost-effective to hire an attorney to get the deal done right than to get involved in an expensive lawsuit.
A good attorney can also be crucial to getting a beneficial purchase. Also, keep in mind that it’s best to hire an actual commercial attorney who deals with this kind of transaction daily. It may cost a bit more than a general lawyer, but it’s well worth it.
What does a real estate attorney actually do?
The job of a real estate lawyer is to negotiate and make a transaction happen in a peaceful way that’s amenable and fair to all parties.
A real estate lawyer takes over after……
A broker is a licensed professional who you hire to negotiate the sale or purchase of a real estate for a fee or a commission. However, they are typically not attorneys. Many of them will clearly state that real estate brokers are not providing legal advice. Real estate brokers don’t usually get paid unless they close the deal (or unless you are somehow obligated to pay a commission, for example, by withdrawing from a deal). Therefore, brokers are usually not going to take care of the legal details and may even try to push a deal to close as fast as possible.
Be sure that separate legal advice from a good real estate lawyer is usually worth the additional cost. It’s much more cost-effective to hire an attorney to get the deal done right than to get involved in an expensive lawsuit.
A good attorney can also be crucial to getting a beneficial purchase. Also, keep in mind that it’s best to hire an actual commercial attorney who deals with this kind of transaction daily. It may cost a bit more than a general lawyer, but it’s well worth it.
What does a real estate attorney actually do?
The job of a real estate lawyer is to negotiate and make a transaction happen in a peaceful way that’s amenable and fair to all parties.
A real estate lawyer takes over after……