While real estate law isn’t necessarily the most glamorous part of buying and selling homes, it’s absolutely one of the most important. And, considering the frantic, high-speed real estate market Ontario is currently experiencing, good real estate lawyers have proven they’re worth their weight in gold recently.
However, considering the profession isn’t highly publicized, knowing how to find a good real estate lawyer can be tricky. Every real estate professional you work with will have ‘their guy,’ but knowing how to find a good real estate lawyer on your own can pay serious dividends before entering what might be the biggest transaction of your life.
At Van Geest Group, we strongly believe in educating and empowering our clients so that they can make the best real estate decisions possible. That’s why we’ve put together this guide on how to find a good real estate lawyer — so that you have full confidence in your legal representation ahead of your next real estate deal.
What Are Real Estate Lawyers For?
Just like everything in life, there’s a lot of paperwork and legalities involved in the purchase of a home. From mortgages to purchase agreements to title and land transfer documents, there’s lots of fine print to read and dotted lines to sign before you can move into a new home.
In short, real estate lawyers are hired to guide their clients through the legal processes, making things simpler and easier to understand. Additionally, a good real estate lawyer will have their clients’ best interests in mind and will fight or object to any clause that could harm them.
This means that not only will a good real estate lawyer have your end of the deal in mind, but will thoroughly investigate and review the bigger picture of the agreement, acting as a broker between you and all other parties involved.
Typically, real estate lawyers are always next to you on closing day to prepare, review, and sign necessary legal documents before you take new ownership of a home.
Where Do I Look For One?
Hopefully, you only ever need to learn how to find a good real estate lawyer once, but getting it right the first time can save you thousands of dollars down the line. Our first tip is to do some research and ask around, both online and through word of mouth.
Do some Googling, call friends and family who have recently completed a real estate transaction, and ask your Realtor® who they trust and regularly work with. Our Team Leader, Jon Van Geest, has worked with many real estate lawyers throughout his long career and knows exactly what to look for in a good one.
“When it comes to choosing a real estate lawyer, you want someone who will go above and beyond the call of duty for you — someone who would be willing to work off-hours to ensure that you seal the deal. You also want someone who is trustworthy and always looks out for the best interests of you and your client. Finding someone who is all of these things and more, is rare.”
If you asked Jon how to find a good real estate lawyer directly, he’d point to one contact in particular.
“I always recommend Andrea Parliament and her team at Andrea Parliament Law to our clients. There have been many deals that would have not closed if it was not for the council of Andrea and her team. In fact, we refer her so much that we consider her an extension of Van Geest Group!”
What Should I Look For In A Good Real Estate Lawyer?
To tackle this question, we asked Andrea Parliament herself what she recommends you look for in a good real estate lawyer.
Andrea noted that a good real estate lawyer should compliment fast-acting agents who seize quick-moving real estate opportunities by helping agents and their clients forecast for the longer-term implications of a deal.
How does Andrea do that?
“Excellent real estate lawyers are able to explain complex concepts in simple language and help clients make difficult decisions. Excellent lawyers not only know and can recite the law, they can walk their clients through the facts and help them make the best possible decisions.”
Additionally, the best real estate lawyers “identify subtle signs of risks, fraud,” and can “take over negotiations when things go wrong at a moment’s notice.”
Lastly, Andrea believes a well-rounded real estate lawyer “knows more than real estate law — they also are strongly grounded in family law, estate law, corporate law, contract law and even litigation risks,” advising their clients through every angle of how to safely buy a home.
What Do They Cost?
When it comes to real estate law, the old saying “you get what you pay for” rings especially true — not just in their hourly going rate, but in long-term financial repercussions too. An inexperienced or untrained real estate lawyer could end up costing you a lot more than just their service charges if they fail to broker a deal that is beneficial to your longstanding financial wellbeing.
However, when we said that good real estate lawyers always have their clients’ best interests in mind, we also meant financially too. That’s why the best real estate lawyers allow their clerks to handle routine tasks, keeping costs low for their clients, while still managing and overseeing the integral details of the deal on a grander scale.
Depending on where you are and who you use, a good real estate lawyer’s fees come in a wide price range. As a general rule, you can expect to spend anywhere from $150 to $350 per hour for expert legal representation.
Are you planning on making a splash in the real estate market soon? Ensure you do it the right way by getting help from our team of seasoned real estate professionals. Let us know how we can help you with your big real estate plans by contacting us here.
