Top 5 Questions to Ask Your NJ Real Estate Attorney

Buying a home is a complex transaction with high stakes involved, especially considering New Jersey’s soaring home prices. With the myriad of costs, details, and potential pitfalls that come with purchasing a home, a strong real estate attorney will ensure that your best interests are being looked after.

While some may be tempted to view the role of a real estate lawyer as a formality, and therefore simply choose whomever a realtor suggests or who a friend or family member may know, it is well worth the effort to do a little investigation & vetting of your potential attorney. The stakes in a property transaction are high – and if your attorney isn’t diligent, detail-oriented, and willing to stand strong in a fight, there could be lasting, even life-changing effects.

Whether buying or selling, choosing the right real estate attorney will benefit your finances, stress levels, and sanity! It all starts with asking the right questions.

When hiring a real estate attorney, you will want to make sure to ask questions to ensure the lawyer you are considering is well-qualified.  It is important to hire someone who is highly versed in the local real estate market, with a deep understanding of compound interest, annual interest rate, home sales, and any legal issues that can arise during the complex home purchasing process.

Here are the top 5 questions you should ask when hiring a real estate attorney in NJ:

1. What Experience and Credentials Do You Have?

A lawyer simply stating that they are a real estate attorney does not mean they are a competent one.  Ensure that you are hiring someone who will be an asset to you in your home purchasing journey by vetting their experience and credentials.  Be sure to question whether the individual you are thinking of hiring has proper New Jersey state licensure.

2. What Challenges Might Present With the Case?

Real estate purchases are complex transactions, in which time-consuming disputes can arise between parties.  For instance, discrepancies over appraisal values may arise, or you might want to purchase a home that has a lien on it.  You might even be close to purchasing a home in which the owner has agreed to make repairs, yet frustratingly they decide not to.  To help prepare for these scenarios, question your potential real estate attorney about their experience navigating common real estate issues. Ask for specific examples of how they have overcome such issues in the past.  The time you spend doing this will pay off, as you’ll be more likely to have a successful outcome if challenges present with your case.

3. How Much Do You Charge?

Your real estate attorney will likely be assisting you in one of the biggest purchases of your life.  Before signing into a working agreement, it is always beneficial to get an idea of how much a real estate attorney is going to cost.  Ask whether you will be charged a flat rate or hourly fee, and be sure to ask if there is a retainer fee.  Additionally, take the time to compare costs against the lawyer’s experience and reputation to determine if the fees are reasonable. Beware of situations in which inexperienced lawyers are charging more than their seasoned peers.

4. What Is Your Availability?

Real estate purchases are often time sensitive, so you want to make sure your attorney responds to communication in a timely manner.  The reason you are hiring a real estate attorney is so that they can offer guidance as issues arise.  Often paralegals will be assisting with a bulk of the work.  If this is the case, you will want to be introduced to the paralegal to ensure you are comfortable communicating with them as a point of contact.  In general, it’s important to determine what the working relationship will look like and to establish it is a reliable one.

5. What Makes You Better Than Other Real Estate Attorneys?

This question is essential for revealing the depth of knowledge your potential real estate attorney possesses.  By understanding what they have to offer, you can feel confident that you are making the right choice in selecting a highly qualified real estate attorney.

Your real estate attorney plays an important role when it comes to making a successful investment, so take the time to ask these questions and feel confident in your decision.

Invest in a Reliable New Jersey Real Estate Attorney

The law firm of Gruber, Colabella, Thompson, Hiben & Montella’s staff is ready to assist with any issues regarding the initial real estate contract, modifications, refinancing issues, title problems, home inspections, environmental concerns (including radon and underground oil tanks) and property surveying.  Our real estate attorneys have established a strong network of connections throughout New Jersey in all areas of real estate.  Contact us today to schedule a free consultation with one of our highly qualified, highly experienced real estate lawyers.