When I discovered that there was a way for my clients to pay nothing for their attorney in the real estate transaction, yet get a qualified, seasoned attorney to represent them- I got excited!
This is a wonderful “freebie” for people working at corporations, or any company that decides to participate in what’s called a “Legal Plan.”
It’s no different than offering health insurance to employees- except many people won’t know that it exists for them.
And, unlike health insurance, people aren’t buying a home every year.
You can check this out at www.legalplans.com
A quick primer for you:
If you’re purchasing a home in New York City, both buyer and seller will have an attorney representing them to:
- draft or review a contract of sale
- read condominium or cooperative board minutes
- review the condition of the building with the manager of the building.
Ultimately, they will:
- make a recommendation to the buyer whether to proceed with the purchase
- (often) prepare a memo for a purchaser to explain the pros and cons of this particular apartment/townhouse.
While it’s ultimately the buyer’s decision whether to proceed, the attorney holds a fair amount of control and power in a transaction, albeit for a brief period of the transaction.
Attorneys can kill deals, negotiate good or bad contracts, and can play smaller or outsized roles in keeping deals on track.
The quality of an attorney is imporant!
So, if you can get a great attorney AND not pay for it- Jump on that opportunity!
Enjoy the video, share with family and friends, and please do let me know if your firm offers a legal plan.
I’ll connect you with terrific attorneys who are on the approved lists of these legal plans who will help you move things forward on a transaction or sale.
Have a great month! -Scott