When selling one home and also buying another, will the attorney charge two fees?

Asked by Mommy S., Naperville, IL Fri Mar 9, 2012

My husband and I are considering selling our Naperville "starter" home and buying something larger. In order to assess our potential down payment, we are going through all of the selling and buying closing costs. (Overwhelming.) Our realtor gave us a list of estimated buyers' expenses and sellers' expenses. "Attorney's Fee" is listed on both documents with $475 as the estimated amount. Does that mean we will need to pay nearly $1,000 for attorney expenses? Or will most attorneys take care of both transactions for one (hopefully smaller) fee. We are seeing our down payment dwindle with SO many closing costs on both sides. Thanks!

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Jim Starwalt’s answer
Jim Starwalt, Agent, Grayslake, IL
Tue Mar 13, 2012
Hi Mommy S.,
The answers below are good but another thing is to ask the Realtors you interview if they would be willing to help out with one side of the attorneys fees in exchange for handling both sides of the move for you. This a concession I offer out quite often in Cook and Lake county.
Good luck, Jim
1 vote
John Wilt, Agent, Wheaton, IL
Sat Mar 10, 2012
BEST ANSWER
Many attorneys will give you a little break on their fees but yes, there are often 2 costs involved (ie selling and buying). I would expect you to pay $700-$1000 for a good attorney that will be attentive to your needs.
Web Reference:  http://www.RealStar.com
0 votes
Marianne Hof…, Agent, Naperville, IL
Wed Jun 20, 2012
I know of one Naperville attorney that charges $300 each. I like him very much.
0 votes
Gloria Nowot…, Agent, Naperville, IL
Wed Jun 20, 2012
Get 3 attorney recommendations from your broker, call each and ask about their fees. Most local Naperville attorney will adjust the 2nd transaction fee. I know of one that charges $450 for the home sale and the $250 for the purchase if it's a normal resale purchase and not a complicated foreclosure, etc, in which that might charge more. Shop and tell them your concern and they will make exceptions. Good luck. Gloria. Sold4Ubygloria@gmail.com
0 votes
Tamara Schus…, Agent, Naperville, IL
Sun Mar 11, 2012
This is a good question. I find the most attorneys give a little break when doing both. Get recommendations from your agent of real estate attorneys then check around. An attorney is very important part of the transaction so make sure you are working with an Attorney who specializes in Real Estate.
0 votes
Marianne Hof…, Agent, Naperville, IL
Fri Mar 9, 2012
You will most likely be charged for both buying and selling. However, an attorney in Naperville can be found that will handle your buy and sell for quite a bit less than $950.
Web Reference:  http://mariannehofmann.com
0 votes
Mike Sullivan, Agent, Gainesville, FL
Fri Mar 9, 2012
I agree with Anna in that the question is best directed to the attorney....they do charge for the work performed, which has to be done on both the buying and selling side.....some attorneys are willing to negotiate to a lower fee as they are doing both transactions, buy only they can tell you how much that would be.
0 votes
Anna M Brocco, Agent, Williston Park, NY
Fri Mar 9, 2012
This question should be directly asked to the attorney, none of us can accurately answer for him/her.....
0 votes
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