Buying a home looks easy, but there are complexities and profound issues that can arise during the negotiations. These are transactions that happen on a daily basis. In 2016, the U.S. construction market was worth approximately $1,162 billion. So whether you are buying or selling, you should involve a commercial real estate law firm.
It is typical when buying or selling to have contracts being signed. However, some brokers can make you sign a contract which may not be favorable to you. Though you may think it’s a standard form, some terms may not be clear to you. A construction lawyer will help you negotiate reasonably and avoid feeling cheated later and prevent the possibility of problems in the future.
Whether you are buying a newly constructed apartment or home, get a commercial real estate law firm. In 2015, the American Arbitration Association administered 551 construction industry cases with claims of $500,000 or more. The largest mediated construction case was for $2.6 billion, while the largest arbitration case was $96 million. The total value of all claims and counterclaims in 2015 was $5.5 billion. This is a complicated industry, and you need a construction attorney who is an expert in real estate laws.
How do you find the best construction law firm?
This is the best way to help you find a good lawyer. If you had good relations with a law firm, you are likely to refer them to another person. So when looking for a construction law expert, ask friends and relatives to refer you to one. Make the right choice because it involves your property legalities and can easily mean your lifetime investment.
Contact the bar of association
If you cannot find a referral, contact the bar of association and they will help you. Every state has a list of list of constructions lawyers that can assist you. You can also request for a list of firms and it will help you settle for the most excellent construction law firm. Be sure to compare the firms and check reviews online.
Come with a list
You can have a list of the law firms you feel would be helpful. Call them or even visit them personally and feel their service first hand. A good commercial real estate law firm will have friendly and professional staff that will treat you well right from day one. Some of them will give you legal consultations for free on the first day.
Legal services in property transactions are vital. By just talking a construction lawyer, you will know if you are dealing with the right person or not. Avoid being in a hurry and take your time to find the right attorney.