Even when a real estate attorney isn’t required for a particular transaction, it’s a good idea to have one to look out for your interests. Whether you’re buying a home or selling a home, leasing an office space or building a new location for your business, real estate attorneys make sure there are no loose ends or loopholes. You may consider yourself savvy in business, but the consequences of signing a bad contract are simply too great to risk it. Still, many people decide not to hire attorneys because they’re worried about the cost. How much does it cost to hire a real estate attorney? Is it worth it? Here’s what you should know.
The Cost of a Real Estate Attorney in Austin
According to Thervo, the average real estate attorney in the United States charges between $200 and $400 per hour. This estimate holds true for Austin as well.
Many of the services offered by real estate lawyers take a predictable amount of time; when it comes to these services, most real estate attorneys offer them at a flat fee rather than charging by the hour. Preparing closing documents is one example of a service that many attorneys charge a flat fee for. If you’re worried about hourly costs adding up, inquire about flat fee pricing.
What Determines the Cost of a Real Estate Attorney
There are several factors that impact how much you’ll pay for a real estate attorney in Austin. These include:
- Experience – Attorneys who have more experience in real estate law typically charge higher fees than those who just graduated from law school. Experience matters when it comes to contracts and transactions.
- Specialization – Do you need a real estate attorney who specializes in homeowners’ association law? Or one who only works in eviction law? Attorneys who work in narrower practice areas can command higher fees.
- Work Needed – A run-of-the-mill deed transfer will naturally cost less than a complicated commercial real estate deal or a case that will go to trial.
When to Hire a Real Estate Attorney
In Texas, you’re not required to use a real estate attorney to buy or sell property. That said, if you’re a first time buyer or seller, you may want to have that extra layer of protection provided by an attorney. In addition to this, attorneys are skilled negotiators—when it comes to repairs and credits, it can pay to have an attorney handle the back-and-forth to get you the best possible outcome.
Whenever there are complexities involved in a transaction, having a skilled lawyer by your side is a must. While it’s understandable that you might be concerned about the cost of hiring a real estate attorney, the bottom line is that you need to have someone looking out for your interests. If you’re dealing with a builder, property management firm, bank, or another big business, they have attorneys on their side, so you should too.
Learn More About Hiring a Real Estate Attorney in Austin
If you’d like to learn more about hiring one of our experienced real estate attorneys and get a cost estimate for your transaction or case, request an appointment online or give us a call at 512-505-0053.