Forum
« slope around the foundation exterior brick »
May 14, 2007
Greenpoint Condo Purchase - Attorney Retainer fee?
Is it normal for an attorney to charge a retainer for a condo purchase in Brooklyn? The attorney I was referred to (by a friend) wants $1000 up front as a retainer.
Comments
It was normal for me; paid half in advance. I have to tell you, my attorney has been the only guy in the game who has a clue as to what's going on. It can be a lot of work.
Posted by: Anonymous at May 14, 2007 5:40 PM
Yes, perfectly normal. In fact $1000 sounds like a small retainer, I paid $2500 up front.
Posted by: Anonymous at May 14, 2007 6:21 PM
$1k against what? is the attorney promising to cap his fee at a certain amount?
Posted by: Anonymous at May 14, 2007 8:24 PM
I paid around $2,500 for a lawyer in Greenpoint when I bought a house in Greenpoint. If memory serves, I paid it all at the closing, nothing upfront.
Posted by: Anonymous at May 14, 2007 8:31 PM
Anonymous at May 14, 2007 8:24 PM
1k to make sure you pay your bill.
Posted by: Anonymous at May 15, 2007 9:18 AM
I think we paid half up front and half at closing, each time out. Most attorneys who do this type of work charge a flat fee for the transaction, not an hourly rate.
Posted by: Anonymous at May 15, 2007 9:37 AM
$1k upfront??? I paid $1k in total at the end of my home purchase in '06. Before you talk about quality, my attorney was very good. He's in Ozone Park on Cross Bay Blvd. It's a little far, but if you have a car, it's a nice ride.
Posted by: faithful at May 15, 2007 11:44 AM
Yes. I typically charge 1800 a transaction and require half, or $900 up front as a retainer. This is because half of the work is done up front and the other half prior to closing. I think the key is to enter into an agreement for a flat fee and make sure your attorney puts that agreement in writing.
Posted by: Wendy Fitzsimons at May 15, 2007 12:01 PM
Post a comment
Please be patient while your comment is published. It may take a moment.