Are You a Real Estate Professional? Then Know a Good Lawyer

Sell real estate? Own a title company? Are you an Investor? Well here are two realities to long term real estate work: taxes and lawsuits. So, get to know the two kinds of people who deal with those issues. At Guest and Gray, P.C. we can help you with the lawsuits. We can also help you with document preparation. Document preparation is fundamentally important to a real estate deal. Why? Because good documents will keep you from getting sued, and if you do get sued, good documents will only serve to help you in the lawsuit.

Because of this, I always tell my long term real estate clients that attorneys are a cost of doing business. We just are. Real estate is one of the most highly litigious areas, especially in the hot real estate market in the Dallas, Rockwall and Kaufman county areas (especially Forney, Terrell and Rockwall areas where much of the growth is the housing boom and/or economic boom).

Here are some of the main reasons to use a real estate attorney when you are doing any sort of large real estate deal, residential or commercial:

1. Texas specific document preparation;
2. Attorneys can draft documents to fit the deal, Realtors without law licenses cannot, they are limited by TREC or other association forms.
3. Those documents are current and up-to-date with any changes in in Texas law;
4. Documents for each type of business model;
5. Documents that fit your deal and your closing;
6. Peace of mind;
7. the availability of knowledgeable services, should you have questions, concerns, etc..;
8. and, for closings conducted at your lawyer’s office, the:
   • added credibility of closing at an attorney’s office;
   • availability of a skilled attorney to make last-minute revisions, re-run documents, and create new ones if needed;
   • availability of an attorney to explain documents, which may assist in getting signatures of reluctant parties; and
   • availability of facilities and services (conference room, notary, copier, etc.).
9. Lower cost than using a Realtor or Broker when reselling property. Many real estate attorneys work the deal for less than a real estate commission for a Broker. (Brokerage fee is typically 6%)

However, the two biggest reasons to choose Guest and Gray, P.C. for you Real Estate law needs are Litigation Deterrence and Legal Representation.

Litigation Deterrence is one of the most common themes of conversations that I have with my clients on all levels, regardless of field they are in. No one wants to get sued. For real estate folks, litigation is a reality of the work you do. The law provides ample opportunities for you to be sued should something not be absolutely correct. This is where a good real estate attorney comes in. We attempt to exchange “uncertainty for certainty”. We want you to feel good about the deals you’ve made, not just because you made some money, but that your B is C’d (butt is covered).

Legal Representation is another major facet of having a real estate attorney on call. Not only can we help you work the deals. If the deals go south, and you end up suing or getting sued, your real estate attorney, with whom you have a working and trusting relationship, can represent you in these matters as well. Who better to represent you than the attorney who knows you and your business? Its a win-win for you. Less time spent getting information to your attorney, less money spent by your attorney reviewing documents, less worry about whether your attorney is doing a good job, which leads to less stress.

The ultimate goal of a real estate attorney is to save his or her client’s time, money and stress. If we make sure your B is C’d in the deal and limit legal disputes, the client’s attorney is doing a good job. Don’t wait until things get bad and a deal goes south to talk to a real estate lawyer about your real estate business. Talk to one now, and if its important enough to you, put them on retainer. You will have questions that need answering, documents that need reviewing, etc..

Let a local real estate attorney guide you through the murky waters of Texas Real Estate Law. If your real estate business is in the Dallas, Rockwall or Kaufman County, Texas areas, you need to speak with an attorney practicing real estate law today. At Guest and Gray, P.C., we have several attorneys who can provide legal assistance including Scott Gray, our chief of civil litigation, and David HagEstad, a former realtor turned lawyer.

Have Questions? Call Today! (972) 564-4644