Lawyers owe fiduciary to you when involved in your real estate transaction. Many states (most) operate without lawyers, but in NY, real estate agents refuse to write fill in the blank contracts, forcing an additional fee onto buyers or sellers that would prefer to go without. I've seen $1500- $2500.
While recommending a lawyer is the law, it isn't a requirement in New York.
You attorney is key to a sucessful Real Estate transaction. As Tom mentioned, you should have an attorney who does a large amount of Real State business so things will move quickly and sucessfully. I agree with Carmen on the cost around Westchester too.
Emily,
Your attorney protects your legal interests. He reviews the contracts sent from the sellers attorney and makes any changes he feels are in your best interest. He also orders a title search and any other appropriate searches for your area. Fees vary ,in my area they run from $700 to $1000. Contact a few Real Estate attorneys, as Tom said, this is very important. Interview them as you would any professional. This is probably your largest single investment so it is worth the extra time and effort to find an attorney who is a good match to your needs, one who responds in a timely fashion, who has a paralegal working for him and who has a few years experience under his belt. Unfortunately, some attorneys "do" real estate closings to supplement their income. You what it to be their primary practice.
Your lawyer represents your legal interests. Make sure they're a real estate attorney. Attorney's who understand - I repeat UNDERSTAND a real estate transaction will know about the market and know the importance of moving things along in an expeditious manner. If you get a slow attorney who lets a contract sit on their desk for a week and a half before looking at it, then you might find your deals falling through. Make sure they're on the ball. - real estate attorney.
In terms of how much you should expect to pay - range is about $1000 to $1500 for a standard residential real estate transaction.
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