Looking to add commercial real estate to your investment portfolio?
Did you know the commercial real estate market is poised for even more growth in 2018?
Whether you’re a season real estate investor or just getting started, working with a commercial real estate lawyer can bring huge benefits to your venture.
To help you in the search process, here are 4 tips for choosing a commercial real estate lawyer!
1. Find An Attorney That Specializes in Your Niche
Commercial real estate can be just as varied as residential real estate or any other business venture.
With that in mind, it’s important to find a real estate attorney that is an expert in the area you are looking to invest. By doing so, you’ll ensure that he or she will be able to best negotiate deals in your favor.
Whether you’re looking at leisure, retail, office, industrial properties, or a combination, be sure that your potential lawyer is familiar with cases like yours.
You’ll also want to inquire about whether the attorney is comfortable drafting leasing agreements like gross leases and triple net properties.
2. Discuss The Staff at The Firm
In addition to researching commercial real estate lawyers that are confident working in your specific niche, it’s also important to discuss the operations of each candidate.
Many law firms have a number of lawyers, paralegals, and administrative staff on payroll.
You’ll want to ask each prospective candidate about who will be working on your case. By doing so, you’ll ensure that the team surrounding each commercial real estate lawyer is competent and on your side!
3. Ask For References
No research is complete without asking for references of previous or current clients.
Don’t be shy about asking each lawyer that you interview for a few references. Bonus points if you can attain contact information for commercial real estate cases that were similar to yours.
Prepare a list of questions to ask each reference.
Here are a few basic questions to get you started:
- How do you feel your attorney benefitted your investment deal?
- Was communication adequate from the firm?
- Do you feel the costs were fair?
If you can’t obtain a list of references, do a quick Google search to check out online reviews of each firm.
4. Don’t Be Afraid To Talk Costs
Speaking of asking questions, don’t be nervous or shy about talking budget when discussing your options with each law firm. If you can not secure traditional financing options, you can try to contact hard money lenders.
Ask how costs vary based on who is handling work. Oftentimes, the hourly rate will vary if a paralegal or administrative assistant is handling paperwork, especially with an investor visa uk.
Talking about fees upfront will help you ensure that you’re getting a fair deal.
Find The Right Commercial Real Estate Lawyer For Your Venture!
With these 4 tips in your back pocket, you’re all set to find an attorney who can assist you in your commercial real estate venture!
Do you have any other tips for finding a commercial real estate lawyer that we might’ve missed? Let us know in the comments!
Do you have any lingering questions or need more advice on commercial real estate law?
Check out our blog for more information!