Buying a home is probably the largest financial decision you will make. There are many important decisions involved in making such a large commitment. You should research the house, the neighborhood, and the reputation of the builder as well as the price of comparable houses. One of the most overlooked and under researched decisions is choosing a real estate lawyer.

If you are a first time buyer, you’ve probably never hired a lawyer before. Lawyers may practice law in a variety of areas. Some lawyers will close house deals, some will go to court, some will incorporate companies and some will do criminal law. Some will even have a mixed practice.

Many people will realize the need for a lawyer immediately after signing the contract to purchase the house. Often, it is a good idea to have a lawyer review the contract before you put pen to paper. Choosing a lawyer is like choosing any other service provider. If you do not have one in mind, you should ask family and friends for a recommendation. Oftentimes, your real estate agent will recommend a lawyer that they are comfortable with.

Homebuyers should obtain a list of 3 lawyers and call them to get an impression of what they are like. While price is important, many people make the mistake of basing their decision on price alone. This can lead to disastrous results if you are not careful.

Real estate law is a specialized area and you would be wise to choose a lawyer that has years of experience in this area. You should not be afraid to ask how many deals the lawyer has closed over the past few years. You should also ask the lawyer to estimate the costs of his or her service, including fees and disbursements. A lawyer should be able to provide you with a reasonable estimate of the fees and disbursements that you will incur. Some companies offer closing services at a fixed cost which include fees and disbursements as well as a choice of lawyers to represent you. A lawyer who cannot provide you with this kind of information probably does not do many real estate closings.

Fees are what the lawyer will charge for his/her services. Disbursements are the out-of-pocket expenses that the lawyer will incur on your behalf. They are separate from the fee and should be approximately the same regardless of the lawyer you choose. Examples of disbursements are title search costs, government fees to register your deed and mortgage and the costs of a title insurance policy, if you obtain one.

Besides price, you will want to ask about service. Will the lawyer be available to meet with you to sign the closing documents? Will the lawyer charge you extra for telephone calls? What is the lawyer’s policy with respect to unexpected problems on a file? Does the lawyer have staff that is experienced in processing real estate deals? Does the lawyer recommend title insurance? Is the lawyer’s office equipped with modern technology or are documents still prepared with a typewriter? Most importantly, are you comfortable with the lawyer and will you trust his or her advice?

Remember that the lawyer is there to provide you with a professional service. Do not hesitate to ask what type of service you will be receiving. And don’t forget to get the lawyer involved in the transaction at the earliest possible time.