How To Control Legal Costs In Commercial Real Estate Transactions

How To Control Legal Costs In Commercial Real Estate Transactions

Certain elements of any commercial real estate transaction will tend to drive up the legal fees.



RANJAN SAMARAKONE

Commercial real estate clients regularly complain about legal bills, both because they think the hourly rate is too high and they say the work took too many hours. It's a compelling demonstration of the incredible power of multiplication.

To save money, clients can put certain types of work out to bid and then hire the lowest bidder. That often doesn't end well. Instead, a client might prefer to hire the best counsel for the job regardless of hourly rate, then try to manage the legal time and the bill. Here are a dozen suggestions .

Make Your Business Deal First. Agree on the