What are the expenses for an attorney to support my home purchase process?

Albe
Home Buyer
07302

Is a flatfee recommended? What needs to be covered by an attorney beside the attorneys review?

Answers (4)
Deborah Madey -...
Agent
Rumson, NJ

It will vary by transaction. The following is typical.....but may not be applicable to your situation.

Assuming there are Realtors involved in your transaction.........

Your attorney will review your documents after buyer and seller sign. Your attorney, and the sellers' attorney will draft ammendments to the standard contract form used by the Realtors.

Your Realtor will assist you w/ the inspections. After the inspections, you will discuss any repairs or credits with both your Realtor and your attorney. Your attorney will draft correspondence to the sellers' attorney outlining your requests for credits or repairs.

Your attorney will order title work and a survey, if necessary. If a recent survey was made of the property, your Realtor may attempt to secure a copy to submit for possible acceptance by your lender in lieu of a new survey.

Your attorney will review the mortgage documents with you, accept the wire transfer from your mortgage company into his/her trust account and write all checks for the settlement of the title transfer.

Most real estate attorneys charge a flat rate for settlement services. Representation beyond settlement services can require additional fees.

If you need attorneys in your area, let us know. If you are working w/ a Realtor, he/she will probably have a recommendation for you.

Fri Mar 7 2008, 22:32
Sharon Kozinn
Agent
Bergen County, NJ

That totally depends on your attorney, and what services they provide you with. Call a few attorneys and get some prices, then make your decision according to the one that fits your needs the best, not on price.

Sharon Kozinn

Fri Mar 7 2008, 12:15
Matthew DeFede...
Agent
Nutley, NJ

usually I tell clients figure about 800-1500 depending on what type of home, this does not include inspections.

Fri Mar 7 2008, 10:31
Barbara Ostroth
Agent
07666
FIRST ANSWER

It depends on whom you use, and whether they do alot of real estate law. The lawyer on the buyer's side sends for the title work, administers the contract, helps negotiate inspection issues, and deals with the mortgage company. There is alot of paperwork and detail involved. In North Jersey, they charge a flat fee, which comes off the proceeds of closing on the buyer's side -- usually between $900-$1200. Some charge more, a very very few still charge less. The best thing to do is get several names from your realtor, and call to ask them yourself.

Fri Mar 7 2008, 10:23

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