Most real estate transactions involve not only a lease or purchase of property, but construction and/or development of the property as well. Transactions commonly require the participation of several people, forming a team of experts, to bring the transaction successfully from concept to fruition.
In the Spotlight: Be the Quarterback
Most real estate transactions involve not only a lease or purchase of property, but construction and/or development of the property as well. Transactions commonly require the participation of several people, forming a team of experts, to bring the transaction successfully from concept to fruition. Team members may include the real estate broker (or in-house real estate manager), construction manager, architect, site development manager, civil engineer, surveyor, land use/entitlement attorney, environmental attorney, title company, and real estate attorney, as well as paralegals. The entire team needs a central point for the coordination and dissemination of information coming from each team member's particular area of expertise. The large majority of such information will make its way into the contract being drafted and negotiated by the real estate attorney and necessitates that the real estate attorney take the lead (<i>i.e.</i>, be the quarterback) to coordinate, gather, and disseminate information from and to the team members.
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Steven J. RobertsThis premium content is locked for LawJournalNewsletters subscribers only
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