Home Buying in Marlborough>Question Details

Ace, Other/Just Looking in Boston, MA

what do attorney fees cover? And how much are they?

Asked by Ace, Boston, MA Mon Nov 26, 2012

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9
Every attorney has there own costs

Buyer's will be responsible for the attorney that represents you for the p&s and the banks attorney that handles the closing.

Some attorney's can handle both ends and may charge you a reduced fee.

Some mortgages offer no points and no closing costs which means the lender would cover the cost of the banks attorney's fees, not the cost of drafting the purchase and sales.

As a buyer some fee's you could expect:

Drafting of P&S which could go between $300-$1300) but $400-$750 seems to be in the ballpark of most.

Closing Fee's - banks attorney - $500 - $750
mortgage insurance generally it's .05 to 1% of mortgage amount
recording fee's 75 - 150
Plot plan
municiple lien certificate
points to bank
Appraisal 350 - 400


Ask your mortgage broker to give you a break down of the closing cost. This will be pretty helpful in determining whether you'd prefer in using the bank's attorney or go with your own.
0 votes Thank Flag Link Fri Oct 10, 2014
Ace,

Good luck. Keep us posted as its always nice to hear feedback.

Louis
0 votes Thank Flag Link Tue Nov 27, 2012
Just ask him/her for the cost of title inusrance for the lender's and the owner's policy.
0 votes Thank Flag Link Tue Nov 27, 2012
Thanks all.

The attorney would represent me as a buyer and I wanted to have an idea/breakdown of their services: deed of recording, title search, bank work, etc. Something else?
0 votes Thank Flag Link Tue Nov 27, 2012
Each attorney has there own costs as stated below by fellow professionals.

If you are the buyer you will be responsible for both the attorney that represents you for the p&s and then the banks attorney that handles the closing.

Some attorney's can handle both ends and may charge you a reduced fee.

Some mortgages offer no points and no closing costs which means the lender would cover the cost of the banks attorney's fees, not the cost of drafting the purchase and sales.

Some fees buyers can expect - figures can vary but this is a ball park

Drafting of P&S (350 - 1500)

Closing Fee's - banks attorney (500- 750) , mortgage insurance (typically .05 to 1% of mortgage amount), recording fee's (75 - 150) Appraisal (350 - 500), Plot plan (250-400) municiple lien certificate (50 - 150) points to bank (0-2%)
0 votes Thank Flag Link Tue Nov 27, 2012
I have learned from past experience never to quote attorneys fees. Each attorney sets their own fee depending on the service being provided. If you are using a banks attorney or seeking a attorney to represent you, it is best to consult that attorney and ask what their will be to represent you.
0 votes Thank Flag Link Mon Nov 26, 2012
If you are buying, the attorneys fee for a closing are around 450-600 title search is about 200. Recording fees are 368 for mortgage deed and MLC. The mlc is 35-50. Plot plan about 125-150. Then you have title insurance of 2.75 per 1k borrowed. There is an optional owners title ins policy. If the same attorney help with the p&s then it may be 100-200.
0 votes Thank Flag Link Mon Nov 26, 2012
I would call a few attorneys to discuss. Fees and services vary depending on the situation
0 votes Thank Flag Link Mon Nov 26, 2012
It really depends, what is the attorney doing for you?
0 votes Thank Flag Link Mon Nov 26, 2012
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