Hundreds of real estate deals start and close in Toronto every day. Some homebuyers and sellers retain professional and time-tested lawyers, like MB Property Law. Some prefer to navigate the process on their own. And some — in the worst case scenario — get legal “help” that causes more trouble. Here’s how to hire a real estate lawyer right and avoid bigger problems in the future.
Why Hiring a Real Estate Lawyer is Worth it
It is easy to assume that you can retain a lawyer only if you are buying a multimillion-dollar home, where disputes are likely to arise. But sometimes a dispute can be quite small and it can cause big damage in the long run. For example, selling your property for $200,000 sounds like an insignificant amount of money in comparison with multi-million dollar mansions.
But if you do not hire a lawyer to arrange this deal, then you might lose your home or at least have to pay significant court costs in the future. The Toronto real estate market is hot, and people are constantly trying to take advantage of that. Therefore, if you want to protect your property, which is not just an investment tool but also a home for yourself and your family, then consulting with a legal expert is the best decision you can make.
How Do You End Up in Court with a Real Estate Dispute?
Many people assume that you end up in court because of miscommunication or because your lawyer failed to keep both parties on the same page. It is not necessarily so. The main reason behind the majority of court cases is when somebody tries to take advantage of somebody else’s kindness and good faith.
Most lawyers suggest that you should start cooperating closely only after a preliminary consultation. This means that the lawyer should understand all of your plans and work with you accordingly, not just do the minimum they can get away with. This preliminary stage can sometimes last for a long time.
It is important to carefully consider the lawyer’s suggestions during this period and not rush into anything without knowing what you want. This way, you will avoid problems later on.
How to Find a Good Real Estate Lawyer
Hiring real estate lawyers Brisbane is not much different from finding a good plumber or car mechanic. The Internet can help you find out if that lawyer has worked on similar deals to yours and what other clients think about the services he or she provided.
If somebody who hired the same lawyer has faced any problems, those issues will probably be discussed in online reviews. Find out what people think about the lawyer’s service, how the lawyer communicates with clients, and whether you will be satisfied with his or her work.
Do Not Fall Prey to the First Offer
If you are looking for a lawyer for your first deal, try talking to several different lawyers to find out who is the best one for your case. While many people might rush into hiring the first lawyer they encounter, this might not be such a great idea.
Keep in mind that every professional you deal with, from the courthouse clerk to the police officer to your lawyer, will expect payment for their services. Sometimes the price is fair, especially if you work with professionals in the field, but sometimes — it’s simply not justified by anything.
When somebody asks for money during your preliminary meeting, it is not a coincidence. It is a signal that this particular real estate lawyer is not trustworthy.
Do Not Allow Yourself to be Controlled by the Lawyer
You might have limited experience managing your own legal affairs or dealing with real estate transactions. Therefore, you might not know that you can ask a real estate lawyer a lot of questions and control the situation, especially at the preliminary stage. If you face problems at this juncture, you can always cancel the contract and find someone better suited for your needs.
You should be able to rely on your lawyer, but not let them make the decisions for you. Trust them, but not let them take over your deal. Give them the level of control you’re willing to share, but keep the key role to yourself.