Glendale, CA asked in Contracts and Real Estate Law for California

Q: Would you do contract document review?

I have a property which I need to be managed by a property management organization that I want the contracts to be reviewed by a lawyer. I can provide the documents. I would like to know more about the review process by a lawyer and the cost of it.

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3 Lawyer Answers
James L. Arrasmith
James L. Arrasmith pro label Lawyers, want to be a Justia Connect Pro too? Learn more ›
  • Sacramento, CA
  • Licensed in California

A: Here's an overview of what you can expect when seeking contract document review from a lawyer:

1. Consultation: Schedule an initial consultation with a lawyer specializing in real estate law to discuss your needs and provide them with the relevant documents.

2. Review process: The lawyer will thoroughly examine the contracts, looking for potential risks, liabilities, and areas that may need clarification or modification to protect your interests as a property owner.

3. Feedback and advice: After reviewing the documents, the lawyer will provide you with feedback, highlighting any concerns or issues they have identified. They may suggest changes to the contracts or advise you on potential risks and how to mitigate them.

4. Revisions and negotiation: If necessary, the lawyer can help you negotiate with the property management organization to make amendments to the contracts based on their recommendations.

5. Final review and signing: Once the contracts have been revised and both parties are satisfied, the lawyer will conduct a final review before you sign the documents.

Regarding the cost of contract review, it can vary depending on factors such as:

- The complexity and length of the contracts

- The lawyer's experience and expertise

- The location of the law firm (costs may be higher in major cities)

Lawyers often charge by the hour, with rates ranging from $300 to $600 or more per hour, depending on the factors mentioned above. Some lawyers may offer flat-fee services for standard contract reviews. To get an accurate estimate, it's best to consult directly with a few real estate lawyers in your area and discuss your specific needs.

Shawn R. Jackson
Shawn R. Jackson pro label Lawyers, want to be a Justia Connect Pro too? Learn more ›
  • Rohnert Park, CA
  • Licensed in California

A: Good morning ... good answer by James Arrasmith ... as you might imagine, a review process would require that you first speak to at least two or three different attorneys to get an idea of both their legal background and their experience and expertise ... along with a review of their background as to business ownership and real estate ownership. Sometimes, the answer is "legal" ... sometimes "practical" ... sometimes "by experience"... so, schedule a video with at least two - three attorneys and get more information,

Delaram Keshvarian
Delaram Keshvarian
  • Orange, CA
  • Licensed in California

A: Thank you for asking the question!

Attorneys can charge on flat fee or hourly for the contract review.

1. There is usually a initial consultation with the client to have an understanding about the general subject matter of the contract, client's goals. Which types of the attorney charges is discussed and negotiated.

2. The attorney goes through the documents and starts spotting issues that legally are triggered or are not in the best interest of the client. The attorney starts legal research to make sure if there are other alternatives available. Also, the attorney needs to keep an eye on the validity and formation of the contract under contract laws. Sometimes there are different laws involved in the same contact that the attorney has pursue and comply during the process.

3. The attorney starts communicating with the lawyer about these issues and their consequences in case of breach by each party and litigation. The attorney may ask the client to negotiate about the facts or rights with the opposing counsel. If there is a conflict about the legality of the contract, the attorney can discuss it with the other party.

4. After discussion with the client and opposing party, attorney drafts the document or amend it and deliver it to the client.

5. The amount of time that the review takes depends on the complexity of laws, length of documents, length of facts involved, or characteristics of parties (e.g. how many times the client or opposing party change their minds during the process).

This is merely discussion of CA general laws and not a legal advice. For a comprehensive advise, more specific facts and investigation are needed. I recommend you consult with an attorney in more detail.

Please let me know if you need further assistance.

Wish you luck.

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