| Skimping on attorney fees could cost you more | | | | title opinion for the validity and ranking of its |
| than you bargained for when investing in real | | | | mortgage. This process could get pretty complex |
| estate. New real estate investors often save | | | | especially when dealing with vacant, bank owned |
| money on their rehabs by cutting corners, doing | | | | and estate property. |
| work themselves and trying not to spend any | | | | Tenant Forms. If you have rental units it is |
| money to make money. When it comes to having | | | | imperative that you have a real estate attorney |
| a good real estate attorney though be prepared | | | | look over your documents to make sure that the |
| to spend away. | | | | language is specific to your situation and state. |
| You have to ask yourselves what you are willing | | | | Tenant law in Iowa may not be the same as |
| to pay for a piece of mind especially if you deal | | | | tenant law in Nevada. |
| with tenants. A few good contracts written up by | | | | Trust me, if any wording is wrong in your 3-day |
| your attorney will easily be worth it after your | | | | notice or eviction paper work the magistrate or |
| first eviction or foreclosure. | | | | judge will spout out some state statute, your |
| You can find hundreds of template contracts and | | | | tenant will get to stay and you will have to start |
| real estate forms on the Internet, but just how | | | | all over. |
| legal are they? Ask yourselves why they almost | | | | Leads. Attorneys can be a great source for leads. |
| always recommend you have your own attorney | | | | Motivated sellers often come from extenuating |
| look them over anyway. | | | | circumstances like divorces, bankruptcies and |
| There are hundreds of reasons to use a real | | | | estates. If you have a good relationship with a |
| estate attorney in your wealth building, but here | | | | real estate attorney perhaps you can help his |
| are my three favorites: | | | | clients out when they find themselves in situations |
| Title opinions. In some states you are required to | | | | like any of the above. |
| buy title insurance to guarantee the marketability | | | | If you are new to real estate investing a real |
| of your property. In others it is recommended to | | | | estate attorney should be on your team anyway, |
| get a title opinion. A title opinion is the opinion of | | | | if you don't have one yet be sure to find one |
| an Attorney regarding the merchantability of title | | | | fast. Your realtor or banker should be able to |
| based upon the title examination and commonly is | | | | recommend a good one for you. |
| written to a lending institution who will rely on this | | | | |