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October 22, 2007
Closing Attorney Cost
Hello all - My wife and I are in the process of buying a brownstone and would like to know what averages for attorney costs from contract to close hace been in Brooklyn? Of course this varies by attorney and case, but your perspectives would be quite helpul!
Many thanks
bct
Comments
Between $1000-2500 has been our experience.
Posted by: CrownGardener at October 22, 2007 10:45 AM
I paid $1500 over the summer.
Posted by: guest at October 22, 2007 11:03 AM
This is from the Motley Fool
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At every closing there's this guy named Irving. He always wants anywhere from $20 to a couple of thousand dollars for the trouble of showing up. Sometimes, he doesn't even show up. He just sends a letter saying. "Pay me now or you can't have your house!"
Irving can represent the municipal tax office, which says you have to pay an obscure tax for buying a blue house on Tuesday. Or he could represent the courier company demanding payment to rush some last minute document across town.
In any case, expect Irving to come up with some other off-the-wall charge that you haven't anticipated.
----
Any stories about your "Irving"?
Posted by: guest at October 22, 2007 11:14 AM
paid $750
Posted by: guest at October 22, 2007 12:03 PM
Yeah, our attorney himself tacked on some extra costs for reviewing a contract between me and my partner when we bought the house. Of course we received no warning in advance about the extra cost. Just a bill.
And I do not think the closing costs that even tally with what we were charged. The whole process was so traumatic, that I do not even want to bother with going back and reviewing the costs. And of course if you do not pay up in advance without knowing what exactly you are being charged for, YOU CANNOT CLOSE!! They have you by the balls and the short hairs.
Just happy I have my house. Anyways, it's appreciated so much that the closing costs seem small in comparison now.
Posted by: guest at October 22, 2007 12:26 PM
paid $1500 this summer also
Posted by: guest at October 22, 2007 1:56 PM
I have never paid in advance and have never had a problem. For all my previous closings I used different attorneys. First of all, i had a conversation with them where they explained in detail the steps that were required, and the TOTAL cost of their work for me. That was before even deciding to go with them. I only paid them either at the closing or after, and never paid any extras. I recall two of their names... Fusco on 7th ave at around 8th st and Steve Gutleber on Joralemon St (has worked for me in two different occasions in different parts of Brooklyn). All between 1,500 and 2,500. Good luck!
Posted by: guest at October 22, 2007 2:03 PM
Generally $1500-2000. My wife did it at that price until about three years ago. Inquire if that covers everything. At that price range, if everything breaks right and it's really easy, the lawyer's making actual money. If there are problems, the lawyer's not making so very much.
Posted by: guest at October 22, 2007 3:33 PM
I paid in the same 1500-2500 range last year. Considering what the agent gets paid, I found my lawyer to be a bargain. I'm surprised they haven't found a way to extract more money.
Posted by: guest at October 22, 2007 3:44 PM
wow. you guys got ripped off.
Posted by: guest at October 22, 2007 3:50 PM
I paid about $800 back in 1996. I'm in the process of selling now. I recommend Jim Ratliff on 4th Street off 7th.
Posted by: guest at October 22, 2007 4:00 PM
Used my job's Union attorney. It was free. It was a straight forward standard contract on a one family home. I also purchased a three family in 2004 and paid $850. 1500-2000 seems a bit excessive to me. Most of these contracts have the standard fare. If a realtor was involved chances are the have already worked through all of the offers and counter-offers and any contingencies.
Posted by: guest at October 22, 2007 4:38 PM
yeah, price range about $1500-2000. i had a good lawyer though in Steve Ebbin @ Heino Realty, 2401 Ave U in Bklyn.
Posted by: guest at October 22, 2007 6:16 PM
I would NOT recommend Ratliff.
Posted by: guest at October 22, 2007 8:21 PM
$2,500
Posted by: guest at October 22, 2007 9:36 PM
John Halkias $1000
Posted by: guest at October 22, 2007 10:12 PM
$2000 - Howard Brickner in Brooklyn Heights was great. He was always available to answer my questions and was very proactive in protecting my interests as a buyer.
Posted by: jab287 at October 23, 2007 10:27 AM
We just closed last week in Brooklyn and used Philip Katz 212.385.1373, who is located in lower Manhattan. He was GREAT! We had a really shady seller and the seller's lawyer was even worse. Phil had to fax her just to get her to call him back (she had no voice mail). He really went above and beyond to get us to closing and to protect our interests (there were some questions about the seller's outstanding debts and how that might affect us). He told us the charge of $1400 up front and didn't raise it at all even with the all extra work he did (drafting addendum and the like). We paid at closing. He was so excellent that the seller's real estate agent recommended him to another client of hers that is going into contract.
Posted by: lincolnlimestone at October 23, 2007 10:45 PM
Did those prices include a title search?
Posted by: guest at October 24, 2007 4:36 PM
title search is a separate function wit a separate company.
it is a different con game all together. you are expected to tip him at least $100. on top of the search fee.
Posted by: Ysabelle at October 26, 2007 4:22 PM
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