When hiring a real estate attorney, you have many different choices. You must first find out if the lawyer has real estate experience and a background in that area. Next, you need to find out if the lawyer has had any disciplinary actions against them in the past. It is also important to find out how much of the lawyer’s practice is focused on real estate transactions. If the lawyer only practices on commercial transactions, then they may not be as knowledgeable about New York real estate law.
Finally, you need to find out how much experience does the attorney have in NYC. There are many nuances to real estate transactions, and you need someone who has the experience to deal with them. It is also important to find out whether the attorney has worked with condos and co-ops in the city. If not, you may be in for a surprise later. Aside from experience, you should also look for the attorney’s professional liability insurance coverage and fidelity bond coverage.
You should also find out how much the real estate attorney charges. Does he charge an hourly rate, or is it based on a retainer? Is there a minimum retainer required to work with the attorney? Also, what is included in the fee structure and are there any other fees? If the lawyer requires additional fees or has an unfavorable fee structure, make sure to inquire about these beforehand.
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