RE Attorney Rates For Closing?
I found an attorney that will charge $500 for a closing. Is this too much for a subject to deal? Can I just have him review the documents, and use a title co. for the closing...would that be cheaper? How much should they charge?
I usually pay $400 for a straightforward closing, and that's considered high.
You really need to just ask around locally (call some other attorneys). Costs vary widely across the country. What may be considered high in GA may be dirt cheap in IL.
As far as the closing goes, that too really depends on the state. For example, NC is considered an attorney state, which means that the majority of real estate transactions are closed thru an attorney. They don't have to be, but if not, you'd better make sure to have everything in perfect order.
Roger
I live in SC. (attorney state...I guess)
I just started asking title companies about this very same topic. So far they are all telling me that I must have an attorney present at the closing. I haven't been able to find a title company that will review my documents without having the request from an attorney...still searching.
I am visiting a few attorneys in the next few days and will try to straighten this all out.
I am also confused on a particular area relating to this subject. Should the sub-2 seller record documents during these buy & sell transactions and what exactly is recording refering to anyway???
I am also confused on how the person you sell to is able to refinance the loans...do they just take the paperwork from Johns book to the loan company?
Thanks
Wes
$450 is stnadard in central NC
I live in IL and that is where all my purchases and sales have taken place.
$500 is too much for closing costs unless your attorney is the GOD of Cook County or something.
I have an expensive guy is in the top 5 in Lake county and his charge is $400.
They average around $300-375
Quote:
On 2003-09-09 21:09, TANISGroupLLC wrote:
I live in IL and that is where all my purchases and sales have taken place.
$500 is too much for closing costs unless your attorney is the GOD of Cook County or something.
I have an expensive guy is in the top 5 in Lake county and his charge is $400.
They average around $300-375
For Illinois do we need an attorney present at the title company for closing? I was wondering if I could private message you, I had a few questions on Illinois specifically. BTW, I found someone out in Des Plaines that is doing $350 or so. I'm still trying to find someone in Chicago, but so far he seems pretty good.
I'm surprised! I never realized what a good thing I got. My attorny only charges $250 per closing. Let me know if you want to use him and you're in OH
I am looking for an Attorney also in the Chicagoland area. An attorney who work with me for Simultaneous closing. I am starting to wholesale property and beginning to build my team.
Quote:
On 2003-09-09 23:12, manueln wrote:
I am looking for an Attorney also in the Chicagoland area. An attorney who work with me for Simultaneous closing. I am starting to wholesale property and beginning to build my team.
Send me an e-mail or private message me.
Hello Forum,
I just got back from the attorney visit.
Result:
Why should I use an attorney?
He told me even though it is an attorney state, I can do all of my sub-2 deals without one. He told me that all I need is the paperwork tweaked to meet the state.
I'll see if I can do all of my business at the local title company.
Wes
Correct, you should not need to use an attourney for sub2. Though it would not hurt do do one with an attourney so you can copy his work line for line.