Lawyers are in high demand in most of the states to perform in transactions involving real estate. In most of the states however, the lawyers are not required and they only hire attorneys’ service during high profile commercial deals as well as any time they are in a problem requiring the services of a lawyer. The details of a position of a paralegal will therefore be based on the state where a job opportunity is available.
All transactions are however identical irrespective of the state that a paralegal works. The most common functions that the paralegal is engaged in include sales and purchases, foreclosures and leases as well as short sales. The transactions of this nature involve drafting of agreements for lease and contract, preparation of addendums as well as closing of documents. Other situations demand that the paralegal compose a letter of intent as well as estopel agreements and in yet other cases they file title objection letter following a title search.
Apart from preparation and handling of the documents, the transactions in the real estate business calls for interactions among various professionals working the real estate field, government employees and the clients. Paralegals practicing in real estate are necessarily required to attend occasions of closing, interact with the escrow as well as the tittle officers as well as the clerks on the offices of city planning. The paralegals are also entitled to peruse the loan documents, well test, soil report and make appropriate recommendations to the employer.
Skills needed to become a Real Estate Paralegal
The paralegal working in the field of real estate must have sufficient familiarity with a variety of transactions that are associated with the real estate business as well as the relevant documentation. Most of the time in the routine of the paralegal involves preparation as well as filing of paperwork. The paralegal requires skills in phone, navigation of office technology as well as the computer software that are unique to the industry of real estate business. Most of the transactions in real estate require a high degree of seriousness that requires that the paralegal maintain a cool head where the emotions of the people may rise. Such a case involves a foreclosure that involves parties of unwilling participants. The parties may fail to cooperate with the office of the law firm. The paralegal in real estate must therefore be skilled in addressing such cases with proper decorum and a high degree of professionalism.
The paralegal in the real estate industry must also exhibit a sense of integrity because the financial documents that they deal with contain personal information for individual clients, organizations as well as corporations.
Most of the paralegal practicing in real estate industry usually opts to secure licenses in real estate that facilitates for tracking of their career. Some others still opt to obtain a degree in paralegal studies. The courses administered during the course in paralegal studies are influential in enhancing the understanding of the students about the pertinent issues in the legal system. The paralegal is free to choose the particular courses in the degree program that best suits the interests of real property law. The chosen courses are supposed to equip the student with the relevant skills requisite fo operating in the specialized field of real estate paralegal. Some of the most beneficial courses that can be selected by the student include the following:
- Alternative Dispute Resolution as well as Mediation
- Federal Income Tax Laws
- Legal Document Preparation
- Real Property
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