At some point you’ll likely need a real estate lawyer, but it can be hard knowing when that time has arrived. You don’t want to hire one when you don’t need one, but waiting until it’s too late can also set you back. Here are some definite indications that it’s time to consult with a real estate lawyer.
#1: You’re Being Sued
Let’s start with the most obvious one, if you’re being sued you definitely need a real estate attorney to handle the situation. Don’t try to go it alone with information you procured from the Internet. A real estate attorney will make your problem go away as fast as possible and is definitely worth the costs involved.
There’s just too much you can get sued for in the litigious society we live in, so it’s best to make sure you have all your bases covered so you have peace of mind and aren’t afraid to grow your business further.
#2: You’re Buying More and More Houses
When your business starts to grow and you’re buying more and more houses than you ever have before you’ll want to enlist the services of a real estate lawyer to draft up the paperwork and make sure everything looks good. This will take a lot of the pressure off of you during the closing and you’ll be able to focus on other areas instead.
Once the buying process is easier for you you’ll be amazed at how much more time you have to invest in seeking out new properties and taking your business to new heights.
#3: You Have More Tenants Than You Can Keep Track Of
Having one or two investment properties is easy enough to handle, but when you start having more tenants than you can keep track of you should seek out a reputable real estate attorney so you’ll be covered no matter what comes up. The more tenants you have the higher the likelihood that something will go wrong, someone will get hurt, or someone will need to be evicted.
#4: You’re Selling an Underperforming Property
When you go to sell one of your properties you’ll want a real estate lawyer to help make sure that the entire process goes smoothly. That way if you spot an underperforming asset you’ll be able to make an objective business decision rather than holding onto it just because you don’t want to go through the process of selling it.
#5: You’re Getting Burned Out
When you feel yourself burning the candle at both ends it’s time to get some help. A real estate attorney can take a big load off of your shoulders and revitalize you so that you don’t lose the passion you once had for your business.
You shouldn’t worry too much about the cost of a real estate attorney because they should make things easier on you and basically pay for themselves with the amount of time they save. If you’re being sued or otherwise find yourself in over your head, they’ll likely save you a ton of headaches and hassle.