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The specialized area of being a real estate paralegal may sound attractive to many people who love the real estate industry. But you may be wondering what does a real estate paralegal really do every day. This article will lay out some of the typical duties you will encounter as a paralegal in the real estate field.
Conducting or Reviewing Title Searches
Depending on what type of real estate law the firm you work for does, a real estate paralegal may be required to conduct title searches or review title searches that were done by a third party company. To that end, the paralegal must understand what each title search is showing and be able to detect potential problems with the title of the property that’s involved in the transaction so that you can alert the attorney of those potential problems.
Drafting Contracts and Leases
Another typical duty of a real estate paralegal is drafting contracts and leases. In every real estate transaction there will be a contract for selling the property if a sell is occurring or a lease if the property is being leased. The duty of preparing these documents will often fall on the paralegal to prepare an initial draft for the attorney to review.
Prepping Case Files for Trials and Hearings
Although there is a lot of document preparation involved in a real estate paralegal’s job description, there are also times when there will be litigation over real estate transactions. When this occurs, the real estate paralegal could have the duty of organizing the documents that the attorney will need for hearings and trials. The paralegal may also be asked to assist in court, especially if there is a large volume of documents to be introduced into evidence.
Preparing Foreclosure Documents
If the firm you work for is involved in foreclosing on real estate, you will be responsible for preparing the foreclosure documents. The real estate paralegal could also be given the responsibility of insuring that all proper notices are sent to the owners of the property.
Drafting Other Documents
In addition to the documents named above, there are other documents that a real estate paralegal may be required to draft. For example, if a property becomes involved in a bankruptcy, the real estate paralegal may be asked to draft a proof of claim. Therefore, being well versed in all areas of real estate will put the paralegal in the best position to do a good job for their employer.
As you can tell, being a real estate paralegal will require you to have a variety of skills as well as specialized knowledge in real estate. But, if you enjoy being in the thick of drafting documents and seeing transactions completed, this may be the perfect paralegal position for you.
