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Richard, Home Buyer in England, AR

How much will an attorney cost me??

Asked by Richard, England, AR Mon Nov 12, 2007

I am looking to purchase an investment property in Rochester, could someone please advise me as to what a fair price from an attorney, and a rough guide to closing costs?

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I'm not sure how much an attorney costs. I need to find an estate attorney soon though. I want to make sure I have enough money for this. Were you able to find out the answer?
0 votes Thank Flag Link Mon Nov 17, 2014
How much does a Estate Attorney cost? House his father own is the only thing of value. So it would have to be sold first for anyone to get any money plus attorney fees, etc. This would be for Puerto Rico. Just wanted to know a rough charge if anyone had any idea at all, PLEASE!!!
0 votes Thank Flag Link Fri Jun 1, 2012
Hello Richard,

The fees vary from $250 - $450 roughly. The costs to close are going to vary more than that. It depends on how much you are financing. You'll have the costs to secure the mortgage plus a full years taxes and insurance. The best thing is to shop for your mortgage company and see which one clicks with you and then compare the APR's as that will ultimately tell you how various mortgage people compare to others.

If you'd like a couple of recommendations of both attorneys and/or Mortgage Bankers (Brokers) I'd be happy to assist.

Michael Walker
Century 21 - Premier Properties
0 votes Thank Flag Link Wed Dec 3, 2008
Attorney Fees for Closing generally run around $400-$450 in the Atlanta, Ga area when there is financing involved and a very minimal amount around $100 or so when it is a cash deal...Closing costs are normally around 3% of the loan amount BUT investment properties carry a little higher interest rate on the mortgage loan.
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0 votes Thank Flag Link Sat Nov 24, 2007
Mine is $87 bucks every time he reads an email. They're expensive but sometimes worth it.
0 votes Thank Flag Link Sat Nov 24, 2007

Most real estate attorneys charge between $400 - $450. Closing costs are generally between 6-7% of the purchase price. So if you're mortgaging an investment property that costs $100,000 closing costs will be around $6,000 - $7,000. These numbers include mortgage title ins, bank appraisal & credit report, NYS mortgage tax, hazard ins and property taxes. If , however, you plan to pay cash the fees are simplified to attorneys fees, hazard insurance and taxes (county taxes are due in January while school taxes are due in September). An important question is what is my return on investment and who will manage the properties on my behalf. Bonnie Wetzel, Century 21 Capital Realty.
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0 votes Thank Flag Link Sat Nov 24, 2007
It depends on what exactly you want the attorney to do for you. If it is a standard closing, their fees are usually quiet reasonable (a few hundred dollars is what the attorney we use charges).

There are other fees involved in closing costs outside of your attorney fees, though (mortgage, title, etc.). Your real estate agent can help you locate a good attorney and also a mortgage broker if you need one (who will also have fees). I would then recommend you to contact an attorney and a mortgage broker and have them explain their costs to you. It will depend on the property you are purchasing as well. As you are from overseas, there may be other factors involved.
0 votes Thank Flag Link Mon Nov 12, 2007
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