Lawyers can be seen as the bane of real estate professionals’ existence, or a trusted advisor; an obstacle or a facilitator; an issue creator or a problem solver, and anywhere in between. The following are some practical pointers for real estate attorneys, and their clients.
Attorneys are commonly viewed as cost centers to real estate players. Attorneys fees are factored into transaction costs as are brokerage commissions, commitment fees, transfer taxes, etc. Lawyers may never be considered “profit centers”, however, experienced, practical counsel can save or earn their clients real dollars in deals and thereby provide true value.
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