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HOW TO SELECT A LAW FIRM You are selling or buying a home and the contracts are signed. What a relief. If you are selling, you have been keeping the house absolutely perfect day after day -- just in case someone wanted to see it. If you are buying, you have been comparing and comparing and wondering how people could ever choose such ugly wallpaper. Either way, you have probably spent a few sleepless nights in the process. Now you have to select a law firm to handle your closing and you have already made more decisions than you ever thought possible. First of all, it would have been better if you had found and consulted with an attorney earlier in the process. Once you have signed the contract, the attorney has only three days to give their approval. This puts the time pressure on you to hire an attorney as soon as possible -- pressure which you do not need. There may also be questions which you would like to ask an attorney. If you choose the attorney first, they will be able to guide you in selecting a real estate agent and/or mortgage broker. Conversely, you can ask your real estate agent or mortgage broker to recommend several attorneys who concentrate on real estate closings. Chances are this is one of the largest transactions in your life. You are happy and excited, nervous and anxious. Selecting the right law firm can go a long way towards turning an inherently stressful experience into something very pleasant. In order to accomplish this, your attorney must inspire your confidence and give your transaction the proper attention. Once you know that things are progressing as they should be, you can sit back and look forward to your closing. Find a real estate attorney. This is very important. Many non-real estate attorneys will handle closings, and some do a nice job, but others can make a simple transaction complex and frustrating. Real estate firms are structured to handle your transaction more efficiently. Furthermore, unlike other areas of the law, a real estate transaction is a cooperative effort and not necessarily adversarial. When you call an attorney, ask him or her why you should use their law firm. You are looking for an attorney who will take the time to answer your questions. You also want to know that either the attorney or a competent paralegal will be available to respond to future questions which may arise. Nothing can be more frustrating than constantly being told that the one person who can answer your questions is out of the office. But wait, you ask, what about the attorney fee? Certainly, it is important to establish what you will be charged, but this is the last and least of the criteria to be considered. After all, in relation to the size of the transaction and the other fees involved, the difference in legal fees is usually insignificant. The fact is that some firms are substantially better than others. You cannot, however, judge a law firm by its price. If you choose the least expensive firm, you may get exactly what you pay for. What you are looking for is an attorney who will take care of your needs and give you peace of mind for a reasonable fee. Do not short-change yourself by disregarding the value of a good attorney. |
