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Top Reasons Clients Seek Lawyers in Real Estate Transactions

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real-estateIn the past 2 years tens of thousands of clients have come to LegalMatch.com seeking real estate attorneys. I was curious at what stage in the real estate transaction people were seeking the help of an advocate. Listed below are the top reasons people cited, in order of frequency:

 

  1. Give me general advice on how to proceed to protect my interests: 30%
  2. Bring a lawsuit against the other party: 25%
  3. Act as my agent in the transaction: 14%
  4. Assist me in the remaining stages of the transaction: 13%
  5. Other: 10%
  6. Defend against a lawsuit filed by the other party: 5%

Thankfully, the vast majority of people are securing legal advice at the right time; i.e., before the deal goes down the tubes. Considering the fortune you are about to put down on your investment, it is always a good idea to get a legal assessment of a real estate contract, as well as legal advice concerning your rights and liabilities.

Unfortunately, 30% of people coming to LegalMatch.com have waited until something went terribly wrong to hire an attorney. This predicament is not unique to real estate. In almost every facet of society, lawyers typically do not get involved to prevent bad things from happening. They get involved once the mess has been made.

Now as lawyers we don’t always mind this. After all, we get paid to clean the mess up. And from a client’s perspective, not wanting to hire a lawyer until it is absolutely necessary is understandable. Attorney fees, even for an hour of advice and consultation, are expensive. (Arguably too expensive). It’s no secret there are also unsavory attorneys who will claim this or that needs to be done to try and milk even more of a client’s time.

For clients, however, the old adage that an ounce of prevention is worth a pound of cure rings true. Solid legal advice before a big investment, a major business deal, or any significant endeavor can save lots of money, time, and anxiety down the road. One hour of a good lawyer’s time is a heck of a lot cheaper than one month.

Ken LaMance

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