Читать книгу Flipping Houses For Dummies - Ralph R. Roberts - Страница 60

Not all lawyers are created equal. You can find attorneys who specialize in divorce, disability, criminal law, personal injury, corporate law, and so on. When you’re flipping properties, you want a real estate lawyer. An experienced real estate lawyer can offer valuable assistance in the following areas:

 Purchase agreement: Purchase agreements are complex documents that cover not only the sale price but also the terms of sale — tax prorations, occupancy issues, water bills, personal property in the house, and so on. Unless it’s in writing, a purchase agreement is subject to dispute. Inexperienced real estate agents (who aren’t lawyers) often introduce errors that can cost their clients hundreds or thousands of dollars.

 Title: Your lawyer can advise you on the best way to take title in your situation. For example, you may want only your name on the title or your name and your spouse’s name if you’re married. A lawyer can also inspect the title work to ensure your protection. (For more details, see the earlier section “Covering Your Back with Title and Homeowner’s Insurance.”)

 Complex transactions: Some transactions may include an assumption of the mortgage or enable the seller to finance the purchase. When complexities arise, having a lawyer on call is always a plus.

To find a qualified real estate lawyer, ask your real estate agent, friends, and family for referrals or contact your local bar association. Don’t resort to merely picking a name out of a phone book — unless you have to. The ideal candidate possesses the following qualities:

 Efficient and affordable: Attorneys often charge by the minute, so beware of long talkers.

 Supportive: Someone who second-guesses all your investment decisions can paralyze you with doubt.

 Unobtrusive: Your lawyer should protect you from unseen risk without sinking the deal. Some lawyers justify their fee by becoming too technical with the documents, which can hinder your ability to close on good deals while annoying the heck out of you.

 Available: A good lawyer is available when needed.

 Experienced: A real estate attorney who owns real estate and rentals is better than one who doesn’t.

 Generous: A lawyer who shares leads can help you find properties you couldn’t find on your own.

Lawyer fees can range from a hundred dollars to a couple thousand dollars. Compare rates and services closely and be sure to consult a lawyer who specializes in real estate.