Skip Navigation

cost of hiring RE attorney?

Started by anonymous
over 19 years ago
Posts: 8501
Member since: Feb 2006
Discussion about
I just spoke to a RE attorney about reveiwing offering plan for a new condo development. He quoted a flat $4000 fee for a full closing and $750 if he reviews the plan and I decide not to proceed. Is this fee quote reasonable compared to market rate?
Response by anonymous
over 19 years ago
Posts: 8501
Member since: Feb 2006

1500 is what I paid-same deal

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

What did you pay $1500 for? Full closing? Or do you mean you negotiated the fee from $4000 down to $1500?

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

nyc attorneys average $1500 - 2000 for full closing.
normally, you put down 50% as deposit, then the other 50% when you close, plus fedex fees (if any) to send any documents to you in the interim.
$4000 is pricey, since the process apparently is pretty standard for nyc.

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

mine is 1k and i'm very happy with him

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

mine is $1500 for the whole thing, half upfront.

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

i'm a RE attorney, and my fees are generally between 1200 to 3000, with very few exceptions on either side of that range. 4000 is very high, especially for a new condo, which tend to be a little easier on the legal end.

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

#5 here, btw the 1k my lawyer is costing, he most likely regrets because of all the trouble and difficulty so far dealing with the coop, a condo MUST be easier, the coop thing is taking forever to close

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

I am paying $2000 for full closing on new dev - paid $1500 to the same guy two years ago and now he obviously feels the resurgence and has raised his prices. (insert lawyer joke / slam here) yuck

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

OP here. I guess I should forget about the guy I talked to. #5, can I get your lawyer's phone number please? :)

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

#5 here, Francis Hemmings @ 212-747-9560 located 39 Broadway, tell him you spoke with the guy buying on Convent~
good guy very helpful~goodluck

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

Thanks!!!

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

Don't forget to leave the 500 tip.... :)

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

mine for a new condo was 1850 flat fee all charges included such as fed ex etc.

Ignored comment. Unhide
Response by julia
over 19 years ago
Posts: 2841
Member since: Feb 2007

I was told an attorney for a co-op closing is between $1,000 and $1,500...hope that's right.

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

We just paid 2,000 for our coop attorney fees.

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

Another good attorney who specializes in real estate offering plans and closing - I've used him three times before on various occasions and think he's great - Richard Cohen, 212.829.9090. He writes offering plans for lots of developers and knows what to look for. His costs should be in the $2,000 - $3,000 range.

Ignored comment. Unhide

Add Your Comment

Most popular

  1. 11 Comments