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Building Your Real Estate Credibility and Watching it like a Hawk
by Dallas Appraiser L.L.C. on 06/17/14
Building Your Real Estate Credibility and Watching it like a Hawk
Keywords:
#DFW, #Appraisal, #Appraiser, #Home_Appraiser, #Appraisers, #Appraisals, #Home_Appraisal, #Mansfield, #Arlington, #Fort_Worth, #Dallas, #Tarrant, #Johnson, #county
Whether you are just getting into a new home or are looking for a tenth investment, your credit score is important. This plays a large part in helping you to qualify for the amount of money that you want and need. By keeping up with your credit score, and understanding how it will tie into your investment, you can be sure to benefit from the points that you have.
Before you get involved in a loan, you will want to check your credit score in order to make sure that you will have the ability to get the loan you want. There are three major companies that rate your credit score, giving you points for good credit and how your history has related to the credit that you have. The companies that you can get your credit score from are Equifax, Experian, and Transunion.
Credit scores will affect the loan you get because it helps you to be pre-approved for a loan. Lender companies will be more willing to work with you if you have a higher score. They will also have the ability to give you a higher amount of money. This usually means that you are responsible with keeping up with your payments, have a good history, and how you have handled things such as overdue payments. For some, this is the only way that loans will be approved. For others, other factors will be considered, such as financial stability, your income and job status. Before even beginning the process of finding real estate, you should make sure that these are in the right place.
By adding up the points you can also add up the abilities that will take place with your loan. Understanding the various elements of your credit score can help you to save money, time and to get approved for the loan that you want. Simply adding it all together will be the place that you want to start in order to build your credibility.
To protect your credit; we recommend and utilize LifeLock protection services. LifeLock offers credit monitoring, account monitoring, and fraud protection.
Buying A House With Resale Value in Mind
by Dallas Appraiser L.L.C. on 06/17/14
Title:
Buying A House With Resale Value in Mind
Word Count:
1061
Summary:
Like many things in our life that have changed dramatically, so did our habitation practices. Most of us don’t stay in one house for the full duration of our lives as it used to be for many people in previous generations.
Our modern dynamic life style and economy, calls for flexibility, mobility and frequent changes, People are following their jobs and careers even if it means moving from one side of the nation to the other.
The most important three factors are: location, location and location
Keywords:
#DFW, #Appraisal, #Appraiser, #Home_Appraiser, #Appraisers, #Appraisals, #Home_Appraisal, #Mansfield, #Arlington, #Fort_Worth, #Dallas, #Tarrant, #Johnson, #county
Article Body:
It is one of our biggest investments and some of us are doing it more than once during our life.
Like many things in our life that have changed dramatically, so did our habitation practices. Most of us do not stay in one house for the full duration of our lives as it used to be for many people in previous generations.
Our modern dynamic life style and economy, calls for flexibility, mobility and frequent changes, People are following their jobs and careers even if it means moving from one side of the nation to the other.
This tendency is in line with our culture of consuming society. We replace everything faster, we treat cloths, cars (some just lease), refrigerators and our dwellings like fashion items with short longevity.
When we decide to buy a house we need to think in terms of sort to medium range periods of time and that should bring us to consider the resale value of our home in the future.
Buying a home with good resale value might take a little longer, and it might take a bit more work on your part, but you'll love the payback later, when it sells quickly and puts extra money in your bank account.
The first consideration should be your family needs but it is cleaver to keep an open mind about what might suite future buyers as well.
The most important three factors are: location, location and location... :-)
Indeed, it is first thing to consider when looking for a home. So, what makes a good location?
There are some general elements which are obvious like:
- Does the neighborhood have easy and fast access to the schools, shopping centers and country club.
- It is wise to pick a house that is located relatively elevated above the area, that can provide two advantages: a flow of good air and a nicer view.
- How many neighbors are adjacent to you and/or across you in proximity, off course the less the better.
- A house located at the end of the street will suffer less noises from the neighbors and their guests. If the street is a dead end it is even better. A corner house may have more light and air.
- The positioning of the house towards the north if it is a warm area as opposed to the south in cold areas. In general, a rule of thumb and this one is general and found right to many locations around the world, as strange as it may sound, the northern neighborhoods are usually more desirable than the southern ones exactly as the western ones are more prestigious than the eastern ones.
- The size of the lot, its shape and the square footage of the house itself.
If the majority of buyers in your area are young families with children,
consider a house with a large yard that's not fronted by a busy street.
- There are many other environmental aspects to consider with respect to
personal preference like a green agricultural area vs. urban area,
quality of schools and other social services and facilities.
In addition to these external considerations there are many important internal elements that can make a house quality higher and buyers are always looking for, such as:
- Closets, lots of closets and with as much additional storage space as possible.
- Light and bright - Homes with lots of natural lighting are very popular.
- Split bedroom plans, with bedrooms on each end of the home, are increasingly popular with buyers.
- If you live in a scenic area, having a view can help you sell.
- Plenty of bedrooms, baths and Rest rooms.
- Large and convenient kitchen with as many cabinets and cooking space as possible.
- The tendency to work from home calls for a suitable room to be set as a home office.
- Laundry and dryer machines located at the same level as the bad rooms.
- A spacious basement is a plus.
Features to avoid
- One-bath homes sell for significantly less than homes with at least two baths and they take longer to sell.
- Electric baseboard heat and electric ceiling heat are not as desirable as
central heating systems. A fireplace in the living room is a plus.
- Tubs and showers in outdated colors, or scratched from years of improper cleaning, might be hard to change without ripping out doors or walls.
- Popcorn ceilings date a house, you know, those bumpy ceilings that were so popular in the 1970's.
Your first objective is to buy a home that's right for you, but do consider its resale value before you make the final decision, especially if you know you'll move again within three to five years. A careful purchase now will help give you extra funds to move up with the next time you buy a home.
Home Inspections
Depending on the type of financing you choose, there should be either 2 or 3 separate inspections on the home you want to purchase. The first should be your own basic inspection (see the bottom of this page for what to look for), the second should be a professional whole-house inspection by a reputable person. Should you select a government loan (FHA or VA), the third inspection should come at the time of the appraisal, which to some degree amounts to a "mini-inspection." Do not, however, rely on this appraisal as your only inspection of the property!
We cannot emphasize enough the value and necessity of an extensive home inspection. Many home purchasers, either in the desire to save the $200 to $500 that a good inspection costs, or due to simple ignorance, have spent enormous sums of money repairing items that any good home inspector would have pointed out. Any offer to purchase you make should be contingent upon (subject to) a whole house inspection with a satisfactory report. Do not let anyone not the agent, not your family or friends, and especially not the seller, dissuade you from having the property thoroughly inspected! Not only will you sleep much sounder after you have moved into the house, a professional inspection can give you an escape hatch from a contract on a defective house. If the contract is written contingent on an acceptable inspection, any defects in the home must be either repaired or monetarily compensated for.
If you are not satisfied, you have the option to cancel the contract.
Defining a Project Scope - Real Estate Consulting
by Dallas Appraiser L.L.C. on 06/16/14
Defining a Project Scope - Real Estate Consulting
The project scope is the core of an individual Real Estate project. Without a project scope the project will just float. Proper needs assessments and other intricate details will be overlooked. Each project is designed to resolve issues the stakeholders are experiencing in their company. These well meaning individuals will dump data and information charts, lists and figures presumptuously on the desk expecting it to all make sense. The "here's the problem, fix it" attitude can be frustrating. There are numerous feature requirements which must be met. It is unclear as to what to prioritize where. Cost estimates may not be accurate. Delivery dates are tentative. It is enough to make someone through up their hands in desperation and say "I QUIT!". The trained business analyst will just grin and dive in. He or she will know what is needed is a project scope.
The Real Estate project scope is the outline of the project. The project scope is considered the itinerary of an individual project program. The project scope is the step by step guide to determine who, what, why, when, and where. It will be able to define to the stakeholders what they want to have done. It will be able to list who will be doing which job. The project scope will list why each step is critical to success of the project. It will also address the time frame as to when the project should be completed.
The project scope will detail for the stakeholders outside resources being utilized for completion of individual tasks. Each development team will be able to view the project scope and see what is required of them. The project scope will also detail needs assessment and cost estimates.
Each project scope will be able to address technical constraints the stakeholders may or may not be aware of. Within the project scope a detailed report of end user requests will also be added. This will allow the stakeholders to understand why certain aspects of the project program are different than anticipated.
The Real Estate project scope is an itinerary listing short term and long term expectations. Short term goals will be listed allowing the stakeholders to check each milestone. The project scope will also include a prioritized listing of essential requirements or features needed for short term and long term success of the project program.
One of the most critical reports in the project scope is the vision statement. The vision statement will define in clear and concise wording the project scope. The vision statement will allow the stakeholders to understand the problem and the solution needed. The vision statement will state the user needs in clear terms. The program features will be outlined in the vision statement.
The project scope is the "do to" list of the program. A sort of brainstorming, or in some cases, model storming which allows all parties involved to be able to follow along. Each department along with the stakeholders will be able to refer to the project scope throughout the completion of the project. Without the project scope the project has no start or end point; the real estate project will most likely fail.
Condominiums - Disadvantages of Ownership
by Dallas Appraiser L.L.C. on 06/16/14
Title:
Condominiums - Disadvantages of Ownership
Word Count:
389
Summary:
Purchasing a new residence involves many issues and condos may be on your radar. Before you buy, keep in mind there are disadvantages to condominium ownership.
Keywords:#DFW, #Real_Estate, #Appraisal, #Appraiser, #DFW_Appraisal, #Home_Appraiser, #Home_Appraisal, #Condo, #REO, #Condominiums, #Duplex
Article Body:
Purchasing a new residence involves many issues and condos may be on your radar. Before you buy, keep in mind there are disadvantages to condominium ownership.
Condominiums - Disadvantages
Condominiums are simply a collection of units in a structure or structures. All property on the interior of the unit is yours with few limitations. Everything outside of the unit, however, is considered to be in the common areas and subject to administration by the homeowners association for condominium communities. As with any bureaucracy, this can lead to problems.
1. Parking - One of the biggest pet peeves with condominiums is parking. While this may sound petty, it becomes a big issue over time if a particular situation occurs. One would think a condominium comes with assigned parking. In many developments, however, this simply is not the case. Instead, parking is on a first come, first serve basis. Over time, this situation can become extremely aggravating. With guests in the neighborhood, you may eventually find it difficult to getting parking!
2. Restriction - Condominiums are all about uniformity. If you prefer to express your individuality, the rules of a condominium may drive you insane. Since people live close to each other in condos, there has to be a number of rules to keep the peace. Many condominium associations, however, seem to go overboard with rules and one can often feel like a prisoner. You may be restricted from having pets, particular types of material in your units, renting to others, making noise outside during certain times and so on. Before taking the plunge on a condominium unit, you absolutely must read the rules and regulations for the association.
3. Association Fees - Homeowners’ associations need money to keep the gardening up and so on. As a unit owner, you are responsible for paying monthly homeowners’ association fees. Before taking the plunge, you need to make sure you understand the current fees. You should also look back in time to see how much the fee has risen over time. Paying an extra hundred bucks or so a month probably will not kill you, but what if the monthly fee is five hundred dollars?
The decision to purchase a condominium can be a complex one. While there are distinct advantages, the devil is in the details. Make sure you understand what you are getting into before taking the plunge.
Concrete Homes - Your Fortress in a Natural Disaster
by Dallas Appraiser L.L.C. on 06/16/14
Title:
Concrete Homes - Your Fortress in a Natural Disaster
Word Count:
419
Summary:
If the area you lived in was subject to tornados, insect infestation and wildfires, and you could live in a type of housing that could withstand all those perils, why wouldn't you?
Keywords:#DFW, #Real_Estate, #Appraisal, #Appraiser, #DFW_Appraisal, #Home_Appraiser, #Home_Appraisal
Article Body:
If the area you lived in was subject to tornados, insect infestation and wildfires, and you could live in a type of housing that could withstand all those perils, why wouldn't you? Concrete homes have an amazing resistance to all of the above and are commonly used in Florida and other hurricane ridden locations, but their popularity hasn't spread to the Rest of the United State.
Due to their unique construction, a number of homes have survived the wildfires in California. Pat Callahan owns a concrete house outside Escondido that only suffered smoke damage during the October Witch Creek fire. Although the vinyl windows were melted, the house remained standing.
Another success story was that of Caesar Rodney and his 5,500 square-foot concrete house near Ramona. The upgrades in her home included:
Concrete roof tiles, glued-down to resist high winds.
Interior fire sprinklers (now a local building requirement).
Oversized wood beams to withstand exposure to heat longer than their smaller counterparts.
An emergency power generator.
A 10,000-gallon water tank to be used in a fire emergency.
Commercial grade aluminum windows with extra thick tempered glass.
Exterior walls were one foot in thickness including reinforcing steel placed in the concrete forms for protection against earthquake damage.
After spending 3 1/2 years building their home, Lorraine and her husband had only lived there a few weeks when the wildfires struck. The landscape was blackened, but the house withstood only minor smoke damage. The cost of building compared to a comparable wood home was about twenty percent higher; Lorraine considers this money well spent
Structural engineer, George Easton describes concrete construction similar to assembling Lego blocks. "The ‘blocks’ are polystyrene forms, called insulated concrete forms, into which the concrete is poured. The forms then are left in place to serve as insulation and the backing for stucco on the exterior or drywall on the interior."
The walls can provide up to an R-50 energy rating and require approximately 44 percent less energy to heat and 32 percent less energy to cool compared to a traditional wood home.
If concrete houses are so effective against natural disasters, why aren't they widely used? Part of the problem is the lack of knowledge in the building industry regarding concrete construction. Even though concrete construction has national code approval, there are many inspectors with little knowledge of how to inspect the structures.
Many builders feel that the future of widespread concrete housing requires a dominant player in the building industry to come forward and say "we can do this", and others will follow suit.
Coinciding Settlements Clauses - Moving Issues
by Dallas Appraiser L.L.C. on 06/13/14
Title:
Coinciding Settlements Clauses - Moving Issues
Word Count:
357
Summary:
People who are selling their home in order to buy another frequently put a "coinciding settlements" clause into their contract offer on the new home. One reason for doing this is so they can move from one home to the other at the same time.
Keywords:
#Houses, #DFW, #Appraisal, #Appraiser, #Home_Appraiser, #Dallas, #Arlington, #Fort_Worth
Article Body:
People who are selling their home in order to buy another frequently put a "coinciding settlements" clause into their contract offer on the new home. One reason for doing this is so they can move from one home to the other at the same time.
Coinciding Moving Day?
One reason people want coinciding settlements is so they can move out of one house and into the other the same day. Sometimes this works out. Sometimes not. If it doesn't work out, don't freak out.
For example, if the house you're buying is a new one, it may not be completed and have an occupancy permit by the date specified. Are you going to risk losing the sale of your old home by insisting that settlement be delayed? Not if you're smart and you really want to make this change. You might explore delaying settlement, or the option of a "lease back" period. If those ideas don't fly, it's time to cope.
Depending on your budget and the length of time between moving out of your old home and moving into your new one, you could:
1) Have the moving company store your furniture and household goods, or
2) Rent a "smart box," pack your household items into it, and leave it parked in front of your old home, or park it in front of your new one (depending on who grants permission), or
3) Store your things in the basement or garage of your new home (with permission), or
4) Rent a storage unit by the month, or
5) Store your things in the basement or garage of a relative or friend, AND
A) Stay in a hotel or motel for a few nights, or
B) Stay in an extended-stay hotel or motel suite, or
C) Stay with family or friends, or
D) Go camping, or
E) Some combination of the above.
The point is to act like a mature adult. Be flexible. You're making a big change. The chances it'll go off without a hitch are slim. Keep things in perspective. Practice creative problem solving. You'll be proud of yourself and have a smile on your face when moving day comes.
Cheap Houses For Sale
by Dallas Appraiser L.L.C. on 06/13/14
Title:
Cheap Houses For Sale
Word Count:
553
Summary:
Cheap houses for sale? Where? We bought one in a beautiful mountain town for $17,500.
Keywords:
#Houses, #DFW, #Appraisal, #Appraiser, #Home_Appraiser, #Dallas, #Arlington, #Fort_Worth
Article Body:
We found cheap houses for sale all over the country. My wife Ana and I were on a seven-week drive around the country. It was a vacation, but we looked at houses too, and bought one in a great little town in the mountains of western Montana. It cost $17,500, and after $2000 to fix it up, we lived there for several months before selling it for $28,000.
We loved Anaconda. Where else can you fly fish, go to a three-dollar movie in a beautiful old art-deco theatre (the 5th most beautiful in the country, according to the Smithsonian), drop some nickels in a slot machine, eat at a fine restaurant, stop by the bar for a dollar beer, and buy a house for under $30,000 - all within a four block area! There are good schools and churches, a library with fast internet service, and wildlife (including bears) a few hundred yards from downtown.
Why Are There Cheap Houses For Sale?
There are cheap houses in Anaconda, and nearby Butte because there aren't many good jobs. I easily found jobs in Anaconda - but not good ones. This explains why people left the area in the 80's, after the mines and smelters closed.
Thirteen percent of the "housing units" in Anaconda are vacant, according to the 2000 U.S. census. This has driven down the home prices dramatically. Since it still has all the basic amenities, is cleaner now, and is slowly recovering, it's a great place to retire to or to move to if you have an internet or other non-location-based business.
A poor local economy is the reason you can buy cheap houses in many parts of the country. These are towns that have seen troubled times, but are often recovering, sometimes with good reasons. Anaconda, for example, now has, in addition to it's beautiful mountain scenery, a ski resort and a Jack Nicholas golf course. Houses cost four times as much an hour in any direction, and those prices are bound to reach Anaconda eventually.
Cheap Houses You Don't Want To Buy
There are towns like the one in South Dakota where we stopped for lunch one day. A bulletin board had ads for cheap houses for sale by desperate people trying not to be the last to leave town. There was a photo of a beautiful old five-bedroom farmhouse for $11,000. As we ate, we looked up the deserted street and noticed that most of the buildings were boarded-up. This was a dying town, with nothing to help revive it. A free house wouldn't be a good enough reason to move here.
Cheap House For Sale - Our Criteria
There are many wonderful towns, from Florida to Oregon, where there are cheap houses for sale. After our Montana experience, we started a website about them. What does a town need in order to make our list? The criteria are certainly subjective, but include at least the following:
1. Population of 4,000 to 80,000.
2. Decent library.
3. Good grocery store.
4. Movie theatre.
5. At least six houses for sale under $50,000.
6. The town has a good "feel" to it.
After much research, we found a number of towns that met our criteria, including some with homes for under $30,000. There really are nice towns out there where you can find cheap houses for sale.
Buying Pre Foreclosures
by Dallas Appraiser L.L.C. on 06/12/14
Buying Pre Foreclosures
Keywords:
#Arlington_Appraisal, #Arlington_Appraiser, #Mansfield_Appraisal, #Fort_Worth_Appraisal, #Home_Appraiser, #Home_Appraisal
Pre foreclosures are known as properties that have reached the final stages before they get repossessed or taken back by the lender or bank. The owner is still in complete control of the property or home, although the bank or lender will repossess the home if the owner does not attempt to rectify the situation. Normally, if the owner makes things right with payment, the pre foreclosure will settle and things will go back to normal.
When buying real estate, there are several benefits to pre foreclosures. Although there are several ways that you can buy a home, pre foreclosure is one of the best. Even though it is one of the best ways to buy property, many people miss out simply because they are notfamiliar with pre foreclosures and all of the benefits that come with them.
The best thing about pre foreclosures is the prices that are associated with them. In most cases, the owner has no choice but the sell the house, and therefore will listen to just about any offer that he receives. Due to this very reason, you can find pre foreclosures for sale at nearly 50% off market value. This is an ideal time to purchase, especially if you are looking to save a lot of money.
Along with the great prices you can get with pre foreclosures, you will also have the luxury of dealing directly with the owner - no third parties involved. This is a great advantage, with buyers being in total control of pre foreclosure sales. In the event that the home owner decides to turn down your offer and cannot find another buyer, he will lose everything. Even if you offer the owner a small price, he will be able to make a little bit of money selling the home.
You can find pre foreclosures that up for sale pretty much the same way that you can find homes in which the bank already has control of. You can look in the local newspaper, on the Internet, or by calling the lender directly. There are several options that you have in terms of finding pre foreclosures, giving you plenty of options. Once you have found a pre foreclosure for sale, it is up to you to seal the deal and get the home of your dreams at a very affordable price.
When you compare foreclosed properties with pre foreclosed properties, you will find that there is less competition involved with pre foreclosures. Pre foreclosed homes are a great purchase, as they will normally come at a very affordable price. Those of you who have been looking for a new home should not hesitate to check out pre foreclosed properties. They are a great investment - and can indeed be very profitable in the long run.
Buying Homes that have Faced Foreclosures
by Dallas Appraiser L.L.C. on 06/12/14
Title:
Buying Homes that have Faced Foreclosures
Word Count:
434
Summary:
You will find there are some people who tout the benefits and advantages of buying homes that have gone through foreclosures
Keywords:
#foreclosures, #Real_Estate_Appraiser, #Real_Estate, #DFW, #Arlington, #Fort_Worth, #Appraiser, #Appraisal, #Texas
Article Body:
You will find there are some people who tout the benefits and advantages of buying homes that have gone through foreclosures. Often, those homes are offered up for auction to the highest bidder and there are some really good deals to be had at that point.
There are some very important pieces of information you should have before you start planning to buy homes that have been foreclose upon.
First, understand that a lender gave money to the person who wanted to buy that house in order for that borrower to make the transaction. The lender had some expectation that he or she would recover all that money plus some interest, but most lenders simply are not in a position to handle property. They do not want to foreclose on the house because then they are going to have to do something with it. That means that the foreclosure process could take a long time while they look for some way to recover the loan from the original borrower, but it also means that most lenders are going to foreclose and then quickly offer the property at auction.
You have probably heard about auctions that ended with buyers getting really good deals. That happens, but it is not always the case. Why would a lender agree to let a particular piece of property go for less than it is worth? Remember that the lender is not in the real estate business and their primary objective will usually be to recover the amount of the original loan plus interest, if possible. If the original loan had been paid down significantly, the lender could agree to sell the property for a fraction of its value.
Another important point is that these auctions will typically be made public. For the person hoping to bid on the property after the foreclosure is complete, this probably means you are going to have some competition. This is the main reason it is not a good idea to allow the foreclosure process to run its course before you try to buy a particular piece of property ñ or to buy it back if you were the owner before the foreclosure.
Most lenders are not anxious to see property in foreclosure. They will often work with the owner for a long time, hoping that the loan will eventually be repaid. But when they have to foreclose, they usually do not want to hold the property long while looking for a buyer who will offer up a good deal. If you are planning to visit some foreclosure auctions, you may very well find an incredible deal.
Understanding Attorney Services Fees in Real Estate
by Dallas Appraiser L.L.C. on 06/12/14
Understanding Attorney Services Fees in Real Estate
In some part of our lives, there will come a time when we will need attorney services. We may need their professional services when we buy a property, close a business deal, adopt a child, file for divorce, or when we need someone to defend us in courts. And throughout the time that we deal with our attorneys to finalize any procedure where we need legal advice, we tend to discuss many things. We may discuss about the steps that needs to be done, what legal actions need to be taken, etc. But, there is one thing that, both us as the client and the attorney, may not discuss per se or may not discuss at all. This is the attorney services fees.
Yes, despite the fact that professional fees for attorney services are important; these are mostly not being discussed. The most valid reason for this is that it seems awkward to talk about them. Besides, it usually feels uncomfortable to talk about them; especially if the services involve dealing with sensitive cases. But, as the one hiring an attorney, you need to know more about attorney services fees so that it will not be uncomfortable for you to talk about it.
Know the Correct Real Estate Attorney Services Fees
As you will be the one to hire and therefore pay for the services, knowing the current market rate for such services would be important. Usually, legal or attorney services fees varies according to where the services are being performed. Here are the three most important things that you have to consider when deciding what amount should be fair enough as fees for your attorney;
1. Decide on how much money you can afford to pay. As the client, you know how much you can afford. And you should tell your attorney that. In most cases, if you can not afford to pay a lot, you can opt for public attorneys. They usually have low rates for their services. But just the same, you need to determine how much money you have and if you can pay the attorney’s regular rates.
2. The kind of real estate attorney services needed. You should also know whether you will need an expert real estate attorney in a certain field. Most fees are based on the level of expertise needed in a legal service or how much work is involved.
3. The usual rate for the type of service. Appraising how much money you will need as payment for attorney services will usually depend on the type of service rendered. Hence, it is important that you would be able to distinguish what type of services you need. It is also important that you know the current rate for the type of service that you need.
When deciding about the attorney services fees, it is also vital that you plan on what type of fee arrangement you will offer. Actually, this is also a factor when deciding how to pay your attorneys. Now, you will need to decide whether you will pay him/her a flat rate, hourly rate or contingency fee.
The latter will mean that you will pay your real estate attorney a certain percentage on any amount that you will get should you win a case; for example, settlement fee for divorce or the splitting of real estate assets. You will have to discuss on how much you will possibly get and what percentage should be the payment.
If you are going to pay a flat rate, on the other hand, the attorney will determine how much is the total fee that you will have to pay. Other expenses such as photocopying, etc are computed with the flat rate fee. Now, hourly rate shall be computed based on the hours spent by your attorney on the case or proceedings.
