Real Estate Lawyer or Attorney is equipped to prepare and review documents relating to real estate such as purchase agreements, mortgage documents, title documents, and transfer documents. A real estate attorney hired to handle a transaction will always attend the closing with the buyer.
Real Estate Lawyer or Attorney Salary
The average salary for a real estate lawyer is $118,000. Salary depends on the hourly rate charged and job experience.
Real Estate Lawyer Types and Functions
Real estate lawyers are typically hired for either of two types of functions: (1) to litigate real estate-related cases, or (2) to handle the legal aspects of a real estate transaction. Real estate lawyers are essentially mediators who step in when real estate deals go south. Some real estate lawyers specialize in residential or commercial real estate, while others focus on specific issues like subdivision and zoning laws. To explore this concept, consider the following real estate lawyer definition.
The lawyer evaluates any offers that the seller makes, or that the buyer receives, in order to ensure that the parties interests are properly protected, and that everyone’s responsibilities in the transaction are clearly defined and followed.
Real Estate Lawyer Examples
As expected, a real estate attorney’s role shifts depending on whether he is participating in the buying or selling of a home. Examples of real estate lawyers’ responsibilities for each kind of transaction are outlined below. Help the buyer understand the purchase contract. Ensure that there are no liens, easements or covenants registered against the property. If a party is selling a home, then examples of real estate lawyer responsibilities include: Review or prepare the purchase and sale agreement, including negotiating the terms.
Real Estate Lawyer Responsibilities
1.Monitor legal risk in real estate documentation and advise clients accordingly.
2.Interpret laws, rulings and regulations for real estate transactions.
3.Draft and negotiate real estate transactions.
4.Draft routine leases and amendments.
5.Ensure that appropriate approvals are in place before real estate transactions are executed.
6.Manage regulatory and compliance related services.
7.Represent the company in purchases and sales of properties.
8.Defend the municipal code litigation.
9.Support legal and general advisory needs associated with a large-scale real estate portfolio.
Real Estate Lawyer Requirements
1.Bachelor’s degree in Law (essential).
2.Admitted as a Notary Public (essential).
3.Strong experience in real estate law and industry knowledge that includes litigation, lease transactions, property management, and purchase and sale transactions.
4.Solid experience in title insurance underwriting, curative and claims.
5.Good understanding of Foreclosure.
6.Analytical thinker with strong conceptual and research skills.
7.Natural leader who displays sound judgment and attention to detail.
8.Ability to work under pressure and meet deadlines.
9.Capable networker with excellent interpersonal, communication and public speaking skills.
10.Proficient with Microsoft Office programs.