What are the Duties of a Real Estate Paralegal?
In residential real estate, the paralegal has significant client contact and must gather information for each transaction, prepare diverse documents, keep records and make checklists to ensure that each detailed step is complete. Experience with Excel spreadsheets and math helps with preparing detailed closing documents and balanced reports.
In addition to this preparatory work, paralegals perform many other functions. For
example, they help draft real estate contracts, mortgages, and numerous closing
documents. Both residential and corporate paralegals get involved with “boilerplate,” or template forms. However, paralegals must review documents carefully to make sure each provision fits the facts of the current project. Then they must review the checklistfor other items that may be missing.
Commercial real estate primarily involves transactions from the developer’s perspective, primarily in the representation of real estate entrepreneurs and equity partners in the development, purchase, sale, and related financing of income producing properties.