Bank Attorney fees

This fee should be on your loan estimate.

Ours was included in the "services borrower shopped for" but not really given the chance to choose.
We ended up paying just over $1000 in bank attorney fees for a co-op purchase a few months ago.

Are you paying the bank attorney to do the lien search, or is your attorney doing that?

If one is getting financing, the lender always has a bank attorney represent them at the closing and the borrower always pays the bank attorney fee.

babushk, I was charged $1550 for my last closing.

Paid $1350 for a closing a couple of years back. Same bank and bank attorney.

Mine was only $850 plus $100 for UCC -1 filing . I only mortgaged $400k which might account for the lower amount but I dont see why, a lawyers hour is a lawyers hour regardless of amount of mortgage.

other peripherals:

management company fees;
processing: $200
finance: $200
(there was a third item which I cant remember because they forgot to collect it)

Bank;
origination: $599
appraisal: $895 (the only one I really bitched about and thought was absurd)
credit report: $16
flood certificate: $16
wire and courier fees: $100
interim interest: $ (something less than a month's payment)

Yes, of course streetsmart, but my point is that the bank attorney's fee is dependent on what the bank attorney does. Many will include running the lien search in their ... scope of work, since I can't think of a better phrase... and then charge you for that as part of the package. But at least one attorney that I work with often has his office do the lien search, so why should the buyer double-pay for that task?

ali r.

Ali, My understanding it that your attorney in coordination with title agency always does the lien search which is only $100-200. Bank attorney's fees seem to be standard for each bank. You can not tell them what to do what not do as they do not work for you.

Here is a list of hypothetical closing costs for a $500K co-op and a condo: http://streeteasy.com/blog/closing-costs-for-condo-and-coop/

"$500K? That must be a mansion."
Bill DeBlasio.