I've been reminded several times over the last couple of weeks of just how important it is for new home buyers to have an experienced real estate specific attorney at their side throughout their home buying experience and home closing.  I've had closings where a top-knotch real estate attorney has been in attendance. It's been obvious that they've interacted with our mutual clients throughout their entire home buying transaction. They (or their office) has continually and actively interacted with me, their client's lender, throughout processing. During the home closing itself, they've been engaged and interacted with everyone at the closing table. They offered valuable insight, guidance, and paved a clear path towards the completion of a successful home closing. It's easy to see, they've earned every penny of their fees. Unfortunately, the opposite has been seen representing my clients too. Most of these attorneys were NOT real estate specific counsel. Nothing wrong with them being educated in another area of the law ... until it impacts my home buying client and the outcome of a transaction. To put it delicately, a few of these attorneys were absolutely clueless as to how to guide, assist, or protect our mutual clients. My clients were most definitely NOT getting what they were paying for. Because they lacked the experience and knowledge they needed, these attorney's came ill-prepared and un-educated as to what they should be doing. In those instances, I had to step-in and explain closing documents and closing information routinely handled by experienced real estate attorneys. In yet another closing, I provided a suggestion for a solution to a legal issue between buyer and seller. Again, on an issue routinely handled by an experienced real estate attorney. Now I don't relate these stories to relate to you how wonderful I am ... nor to state how much I know or how hard I worked. Nope. Not my point. My point in relating this is to get this message across to home buyers ...  When buying a home, find and retain the legal services of an experienced, knowledgeable REAL ESTATE SPECIFIC attorney with current real estate expertise. I've written about this topic before, but the importance of following my advice above just continues to grow. In this current challenging housing market, when utilizing the services of legal counsel, you absolutely .. positively .. need the services of an attorney knowledgeable and experienced in current real estate law. And I do say and point out the importance of CURRENT. Laws, rules and regulations .. they've all changed at mind-numbing speed over the last couple of years. IMO, there is no way that an attorney that does not work within real estate in a regular, continuous, and repetitive basis can offer the full expertise and protection needed by today's home buyer. And a couple of closings I've had over the past few weeks showcased that fact in an alarming fashion. I can't emphasize it enough. Do your homework. Take the time. Get referrals. Get references. Speak to other real estate professionals. Get feedback. Find the active and knowledgeable REAL ESTATE SPECIFIC attorney that can provide the valuable real estate legal services you need. Heck, for that matter ... follow that recipe to find all your real estate professionals. Whether agent, lender, home inspector, appraiser, etc. ... it's the best way to find and work with quality real estate professionals. You find and get the best results for yourself. And your short and long-term interests are best served. * If in the Chicagoland area and in the need of a real estate specific attorney ... or real estate professionals in other fields, please contact me for a referral. I've had the pleasure of working with many of our area's finest real estate professionals and will be glad to provide you names and contact information for their services. I can be reached at: Direct: 815.277.4036 Cell/Text: 708.921.6331 Skype: 630.219.1316 Website: www.genemundt.com Email: gene@chicagobancorp.com |
