What is normal fee Attorney charge for Attorney review in New Jersey? Thanks!

Asked by Kevin, Bellevue, WA Thu May 1, 2008

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9
Deborah Madey, Agent, Brick, NJ
Thu May 8, 2008
I wouldn't choose legal representation based upon the lowest fee....not for real estate, not for any legal matter. Choose representation based upon the value the provider will bring to the table.

I have been through nightmare closings with attorneys who have been horrible.......and I kinow several great real estate attorneys. I am sure there are well qualified attorneys who have had poor experiences with Realtors, also.

Not all Realtors are equal. Not all real estate attorneys are equal.

I also walked through a real estate closing, which to this day stands out as one of the very worst, in which the buyer chose their family attorney and the fees were in excess of $5000. On the day of clsoing, the closing was on edge for 6 hours, solely due to attorney errors, and the attorney billed the client an hourly rate of $300 per hour for that day. This was not a complicated transaction or property. It was a mid price range resale home that was 20 years old in very good condition with a few minor inspection issues.

Pick an attorney who specializes in real estate. Fees should be under $1000 unless you have unusual circumstances (waterfront CAFRA, EPA, oil tank leaks, septic problems, etc.)

Closing is at the office at the buyer attorney so that the buyer attorney can make adjustments to paperwork, if necessary. Also, the buyers usually need to meet w/ their attorney prior to the gathering of the seller side.

Do you have a Realtor who can recommend a real estate attorney? If not, you can contact me for assistance with this.

Regards
Deborah Madey - Real Estate Broker
Peninsula Realty Group - New Jersey
4 votes
Kenneth Verb…, Agent, PRINCETON, NJ
Thu May 1, 2008
Most attorneys will give you a flat rate but may have title company or lender do disbursements etc. I have seen from less than $500 to over $3K! They will also need to know if you are buyer or seller. ASk what other costs they will be passing thru and if there are any upcharges. Are you paying the survey fee that the surveyor charged or a amount above? What about copying and courier fees etc? Ask for more than one name unless you have quite a bit of faith in your agent. Ask them exactly what they do and if you will be charged additional fees if you need to speak with them to explain where you are and what you need to do. I use the same attorney my clients do because she copies me on all correspondence, speaks in English I understand, has excellent paralegal and secretary. In addition I almost always reach a live person when I call and they return my calls promptly.
2 votes
Cheng, , 08817
Thu May 8, 2008
Helen never had any problem with ALL of the lawyers she picked, and every time she went thru that rigorous process like Microsoft Bill Gate who said "recruiting the right person" is the most important thing to get the job done right. And, of course, Bill Gate never hire any of his IT professional by referral because he is very savvy and knows not to pay too much for the value service; that's why he makes lots of money.

And this is true for Helen. Can you be a babysitter and also buy dozens of houses for rent? collecting $30,000+ rent each month? She told me when she invest on her first house, she talk to her Indian neighbor to agree to move over with $50 lower rent in order for her to buy the house, so she missed NO day for the rental of the house. She also did not pay for professional services either. Her tenant ended up stay with her for many years because her rent is always the lowest.

Why Helen bother to search? rather than use referral? According to Helen, referral usually MORE EXPENSIVE because there often to be some kick back. Why she keep on using NEW attorneys? She said, the cheaper the attorney, the younger the attorney, and young attornyes often be very honest since they have not got chance to learn all the tricks to jack up the fee.

A fair statement could be that younger attorney has less living expense, if it cost a young attorney $2000 a month to rent an 1br apt, car loan, food, ...etc, it may cost a senior attorney $6000 a month to pay mortgage on big house, luxury car, travel, ...etc. so for the same amount of working hours, the fee should not be different. That's why for the same type of job, you got $500 to $3,000 range of charge.
1 vote
Jeanne Feeni…, Agent, Basking Ridge, NJ
Thu May 1, 2008
The attorney fee is generally less for the seller in a transaction. I'd say between $900 and $1100 on average is a reasonable estimate. I recommend you work with a local real estate attorney and if you don't have one, ask for several suggestions (I always offer a minimum of 3) and call them to ask the questions that matter to you. Be sure to ask what their fee includes - is it all in, or are ancillary costs like copying, postage, etc an add-on. I always recommend that you inquire about availability during the time of your transaction to be sure you have the coverage you are expecting.
Web Reference:  http://www.feenick.com
1 vote
Bar James, Home Buyer, Plainfield, NJ
Sun Oct 2, 2016
For Home Sales what are reasonable-average fees for Attorney Review and Closings?
0 votes
Cheng, , 08817
Thu May 8, 2008
My babysitter Helen has been buying quite a few properties for investment, and each time she just called EVERY lawyers in the yellow book, yes, EVERY and EACH lawyer specialize in real estate, and she was always able to find two or three willing to do it for $450...

In general, buying attorney does almost all the work such as title search, loan, ...etc, and charges more, whereas selling attorney does much less. So, it often close at the buyer attorney's office. Why? just in case some paper missing, got stuck somewhere in closing. Selling side has little document and less likely to miss anything.
0 votes
Sharon Kozinn, Agent, Hillsdale, NJ
Sat May 3, 2008
In the North Jersey area, attorneys usually don't charge a fee just for attorney review, their fee is for the entire transaction, start to finish. If you are in the Bergen or Passiac County area, I can give you the names of some excellent Real Estate attorneys that I have worked with. You can contact me through my website.
Take care,
Sharon Kozinn
Web Reference:  http://www.sharonkozinn.com
0 votes
Angela , Agent, Williamstown, NJ
Thu May 1, 2008
Hi Kevin,
I do agree that you should find out upfront what their fee covers and could there be any additional costs incurred? I would also ask if their fee includes them attending your closing to explain your documents to you at the table.

Here in South Jersey, it is not a requirement that you use an attorney. There are many people that go to the closing table representing themselves and having the mortgage rep and title company handle everything.

If you have any other questions, please feel free to contact me.

Angela "Angie" Allchin
Century 21 Rauh & Johns
508 Hurffville Crosskeys Rd.
Sewell, NJ 08080
856-582-0366 x 172
0 votes
Diane Glander, Agent, Spring Lake, NJ
Thu May 1, 2008
I have seen the rates vary. They are generally cheaper down here in Monmouth County than up North by you. For buyers it ranges from 600-1000 and for sellers it's more.
It's really important to get an attorney that specializes in real estate closings. Get a recommendation from your agent. As the seller you not only want to protect yourself legally, but you want to get out of review as quickly as possible.
Web Reference:  http://www.dianeglander.com
0 votes
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