how much can i expect to pay for aty. fees for a closing on a shor sale home in totowa nj. listing price

Asked by Truethat1, 07512 Tue Jun 9, 2009

cost of closing..

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Donald Campb…, , Bayonne, NJ
Thu Mar 11, 2010
There is a vast difference for an attorney between “just doing” a real estate closing versus an attorney protecting the buyers, such as negotiating a price adjustment because of house defects, oil tank problems, (leaky or not), mold, roof, etc. etc. Does the buyer need help with the lender, with the seller, with any tenants, or is it the moving date or what’s to be left behind and what isn’t by owners? A good real estate attorney doesn’t just “do a closing”.

Some attorneys with title companies and some real estate agents just want “an attorney to do the closing”. Good real estate attorneys, however, will seek to protect you and your investment. It’s like going to the doctor for a sore throat as any doctor can treat it, but if it’s cancer of the larynx, you want a specialist, not just the local doctor. So also with attorneys, we all can estimate a fee for just the closing, but if there are problems (and most often there are), then expect to pay more. So if you see the cheap attorney fee ads, keep looking. It doesn’t pay to be penny-wise, thousands of dollars foolish in the biggest investment you will ever make – your home.

Our office always wants to meet personally with you to explain the process and answer all your questions, especially about fees. An attorney who just wants to do the “closing” doesn’t usually want to get involved in your concerns and problems because they want to get you in and out. So beware the cheapest quote, you may just get what you pay for – little. We recommend doing it right and getting an experienced real estate attorney, even if it isn’t our office, which serves Northern New Jersey.
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Mary Ann Sgo…, , 07512
Thu Oct 29, 2009
On the average closing costs are $6,000 to $8,000. A short sale home does not allow for seller concession such as "closing cost assistance". You might do better buying a home that is not a short sale and asking for assistance from the seller for closing costs. Most sellers are willing to do this in a "buyers market" such as the one we are in. Hope this helps.
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Sharon and K…, Agent, Livingston, NJ
Tue Jun 9, 2009
I don't think there is only one answer to this question. You should call few attorneys and find out their rates. It also depands wheather they are invloved in the short sale proceedings or they are only handling the closing for you. Ask your Realtor for few names. If you can't find anyone feel free to give me a call and I'll be happy to recommand few that I worked with in the past. Good luck
Karen Abramson (917) 294-0356
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Lukasz Wojtu…, , Fairview, NJ
Tue Jun 9, 2009
I don't believe there is a set number that exists. Different attorneys charge different rates and some charge more for short sale transactions. I would ask your agent to see if he/she knows a reliable and inexpensive attorney, if not then you should do some research and try to find one best suited to your needs. Just as a word of advice, an attorney with experience with short sales tends to be more valuable than one who isn't. Just to give you an idea, attorneys in my area ( Southern Bergen and Northern Hudson Counties) charge anywhere from $850 on the low end to $1500 on the higher side.
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