Sean....the options would be a list of other attorneys that charge anywhere from $850 and up!

The price negotiation depends on the Attorney and [their] willingness to work with you. If you are in NYC it is likely standard, in the 'burbs' the price ranges from approx $900-$1200 so I would consider this on the high end. Keep in mind that while a co-op may be lower in price and size, the amount of work to be done could be just as a house, and sometimes more.

Hello,
I'm not in NY either. However, I would not expect that $1,250 is much more than the norm condiering the work involved. I would suggest you ask your agent if the amount is appropriate. Furthermore, you can call the attorney and ask what you get for the $1,250. This may give you a little more insight with regard to your attorney fees compare to other clients.
All the best to you,

True everything is negotiable however that sounds like a reasonable fee to me. I also agree with the other agents who point out that co-ops can be very tricky. I'll also go a step further and tell you that I always suggest a few local Real Estate attorneys for my clients to consider because a good local attorney can make or break a deal. These tried and true professionals not only work well with agents but they also tend to live and work in the communities we serve and therefore often have first-hand knowledge of the particulars of co-ops in town and their financial standing.

My experience is that attorneys in this area charge in the $1000-$1500 range for a coop, and I believe that most attorneys that I have had closing experiences with, charge in the $1200 range. Coops are very idiosyncratic, and I know some attorneys that will not handle coop sales because of this. So if you feel you have found a good attorney, someone that you are happy with, can communicate with and someone that really understands coop sales, then it may be worth $1200. If you have recommendations for other coop attorneys, call them and talk to them and see what they charge. If its less than what you've been quoted, see if your attorney will negotiate. Or you can use another, less expensive attorney. However, read what my colleague Christopher Pagli has to say about his experience. I think most realtors have had similar experiences. Sometimes you get only what you pay for. Good luck with selecting attorneys.

Barbara O'Connell
Licensed Real Estate Salesperson
Margot Bennett, Inc.
914-548-1628

I've worked with a great attorney who charges $950 per closing. He's very reliable & my clients have loved working with him.

Hi, As many have said all things are negotiable but keep in mind alot of the times you get what you pay for. There is alot involved with NY state transactions and I haven seen $1250 to be somewhat standard. Yuo can definitely get cheaper but please for your own sake interview the attorneys to make sure your service won't be compromised with a lower fee. I've had experiences with a union attorney that got paid $600 and once the transaction got too detailed he removed himself because it wasn't worth it. Not only did he remove himself but it was 2 weeks before closing!
.

Sincerely,

Christopher Pagli
Licensed Associate Broker
Accredited Buyer Representative
Legends Realty Group
914.406.9023

Dear JC,

Everything is negotiable. I have had coop and condo transactions that cost more and some that have cost less. It depends on firm, but that number falls within range. Firms that are in Manhattan may charge more, sometimes. If you are looking to shop around. I would suggest that you contact the New York City Bar, Legal Referral Service. You can discuss your needs with them, I believe they are a not-for- profit organization.

Good luck. If you have any additional questions, please do not hesitate to ask.

Nirmala Caraballo
Real Estate Agent
Cruse Realty
Tel.: 646-479-7873
E-mail: nhcaraballo@yahoo.com

Annee Marie,

What are their options other than negioating the rates? Just wondering as I love to learn about how other things work and am sure JC would like to know as well.


Sean Dawes

Hi Jc"

There are definitely other options. If you are interested, I can suggest a few other options.

AnneMarie
Better Homes & Gsrden
914-774-2764

Jc,

Typically just so you know we are not suppose to discuss commissions or fees on here as they are all negiotable. Just with anything, shop around but just remember sometimes you get what you pay for. Cheaper is not always better.



Sean Dawes

Of course they can be negotiated. However--and I'm not in New York and I understand that attorneys do much of the transactions there, versus in other places--I don't know if $1,250 is reasonable or not. (My gut reaction is that it probably is.) So, try negotiating with the attorney, or try a different attorney.