What are the average attorney fees for a real estate transaction in Westchester County, NY?
We were charged the flat rate of $1500 for the first 12 hours involved in the transaction, which we knew going in, but now three days before closing, we get the attorney's total charges in which she has added an additional $1000, saying 'Although the Retainer Agreement permits us to charge an hourly rate for the time over 12 hours, I will not do that, and only add another $1,000 to the fee for the additional 10 hours.' Are the amount of hours given to this transaction normal for attorneys?
I agree with the others: $1,000 on the lower end to $1,500 tops! And most importantly, I suggest to my clients that they be sure the Attorney is a specialist in Real Estate Law.
We have never heard of any attorney charging an hourly rate. Here in Northern Westcester you can hire an attorney to close for $975. Most attorneys are willing to negotiate, especially in these times. We never see the actual bill but I think my sellers/buyers would complain, especially if we suggested the attorney.
I agree with Mike. The fee in my area is usually around 1200 per transaction but if the deal
runs into problems and many more hours it could be higher.
Most of the atty's I deal with are around 1k to 1,200 and thats it. Unless there was alot more work involved in the transaction, like sending out contracts more than once. But if everything went according to the norm. I would say $2,500 seems like alot.
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