Skip Navigation

Legal fees

Started by coophunting
almost 19 years ago
Posts: 3
Member since: Dec 2006
Discussion about
Who is responsible for buyer's legal fee when the seller decides she no longer wants to sell her coop. The contract was signed by buyer, not by seller. Buyer's legal fee came to $1280 for 4.5 hrs
Response by anonymous
almost 19 years ago
Posts: 8501
Member since: Feb 2006

u

Ignored comment. Unhide
Response by coophunting
almost 19 years ago
Posts: 3
Member since: Dec 2006

why me?

Ignored comment. Unhide
Response by anonymous
almost 19 years ago
Posts: 8501
Member since: Feb 2006

simple - he's your attorney

Ignored comment. Unhide
Response by anonymous
almost 19 years ago
Posts: 8501
Member since: Feb 2006

well... is there any stipulation in your contract that if the seller backs out, you are compensated for your costs?

Ignored comment. Unhide
Response by spunky
almost 19 years ago
Posts: 1627
Member since: Jan 2007

Did your attorney still bill you after the seller backed out? If he or she did I would think about changing attorneys because that's tacky.

Ignored comment. Unhide
Response by anonymous
almost 19 years ago
Posts: 8501
Member since: Feb 2006

check the retainer agreement between you & your atty. many will have you pay a certain amount for their time in the event that the deal falls through. But $284 per hour sounds a bit steep for a NYC RE attorney, given that they usually charge btw $1800 - $2500 for the whole deal, but that's a diff issue

Ignored comment. Unhide
Response by anonymous
almost 19 years ago
Posts: 8501
Member since: Feb 2006

If attorney did due diligence why would he/she not bill for the work? Its not
their fault deal fell through. You hired them.

Ignored comment. Unhide
Response by anonymous
almost 19 years ago
Posts: 8501
Member since: Feb 2006

That happened to me, too. I had to pay. I was very ticked off at the seller.

Ignored comment. Unhide
Response by anonymous
almost 19 years ago
Posts: 8501
Member since: Feb 2006

No recourse? That's a shame but she didn't sign so perhaps there isn't any. I wonder if you could post the culprit's name but better check with your attorney first.

Ignored comment. Unhide
Response by anonymous
almost 19 years ago
Posts: 8501
Member since: Feb 2006

post the complete address so we could avoid this seller

Ignored comment. Unhide
Response by anonymous
almost 19 years ago
Posts: 8501
Member since: Feb 2006

The coop was in tudor city. The atty's fee was $350 per hr/ $2000 for closing.

Ignored comment. Unhide
Response by anonymous
almost 19 years ago
Posts: 8501
Member since: Feb 2006

I had three deals fall through all were out of NYC. One was in Long Island and the other two were in Westchester. All three my lawyers spent time on these . I used two different lawyers. In all three I wasn't charged a penny from by Lawyers.

Ignored comment. Unhide

Add Your Comment