Real Estate Lawyers.
What Do Real Estate Lawyers Do?
A real estate lawyer is a legal professional who specializes in providing legal services related to real estate transactions. They are responsible for preparing, reviewing, and negotiating various legal documents that are involved in real estate transactions.
Some of the documents they work on include purchase agreements, mortgage documents, title documents, and transfer documents.
Real estate attorneys also provide legal advice to clients who are planning to buy or sell a property.
They help clients understand the legal implications of real estate transactions, including zoning laws, environmental regulations, and other legal issues that may impact the transaction.
In addition, real estate attorneys often handle closings, which is the final step in a real estate transaction where the ownership of the property is transferred from the seller to the buyer.
They ensure that all the legal requirements are met, including the transfer of title and the payment of closing costs.
How Do I Become A Real Estate Lawyer In Kenya?
To become a real estate lawyer in Kenya, here are the steps you need to follow:
- Obtain an undergraduate degree: You must first obtain an undergraduate degree in any field of study from a recognized institution.
- Take the bar exam: After obtaining your undergraduate degree, you must pass the bar exam before you can be accepted into law school. The bar exam is a national exam that assesses a candidate’s knowledge and understanding of the law.
- Attend law school: Once you have passed the bar exam, you must attend law school. Law school in Kenya takes five years to complete if done full-time. During your studies, it is recommended that you take courses that are specific to real estate law.
- Complete your pupillage: After completing law school, you will need to complete a pupillage program. This program is designed to give you practical experience in the legal field under the supervision of a practicing lawyer. The pupillage program lasts for six months.
- Get admitted to the bar: After completing your pupillage program, you will need to apply to be admitted to the bar. This involves passing the Advocates Training Program (ATP) and the bar exam. Once you have been admitted to the bar, you can begin practicing as a real estate lawyer.
How Much Is A Real Estate Agent Paid In Kenya?
Real estate agents in Kenya are typically paid on commission, which is a percentage of the property sale price. The standard commission rate in Kenya is between 1% and 3% of the sale price and is usually split between the seller’s agent and the buyer’s agent.
Therefore, the amount a real estate agent is paid in Kenya can vary widely depending on the property’s sale price and the commission rate agreed upon.
For example, if a property sells for KES 10 million and the commission rate is 2%, the agent would earn KES 200,000. However, it’s important to note that real estate agents only get paid when a sale is successfully completed, so their income can be inconsistent.
When to Hire a Real Estate Attorney?
It is recommended to hire a real estate attorney before signing any contracts. This is because both buyers and sellers can benefit from having a legal expert review all the details of the agreement to ensure that it is in their best interest.
The attorney can also assist with any negotiations or disputes that may arise during the transaction.
How Long Does It Take To Become A Real Estate Lawyer?
To become a real estate lawyer, one must earn a Juris Doctor (J.D.) degree, which typically takes three years of full-time study in law school. However, part-time programs are also available for students with other obligations, which may take longer to complete.
Additionally, after completing law school, aspiring real estate lawyers may need to pass the bar exam and gain experience in the field before practicing independently. The entire process may take several years.