What is the name of your state?New York
Moved from Michigan 3 years ago where no lawyers are needed for real estate closings. All handled by title company.We purchased house in NY and were told by NY real estate agent that a lawyer was needed for completion of real estate tranactions in NY. Lawyer charged flat fee of $750 did a great job. Am now reselling, house price increased $200,000. Prior lawyer no longer practicing, new lawyer charging flat fee of $1500.00. Couple of questions, is it mandatory to use a lawyer in New York and if yes what are the usual fees. Are the charges based on a flat rate or on hours or on sale price of house or at the lawyers discrection. This is a very simple straight forward sale. Buyers have no house to sell, are putting 20% down and will wait until we are ready to move as long as it is by summertime. Does the lawyers fee of $1500 seem like a fair charge or would I be further ahead to "shop around". Please educate me. Thanks
Moved from Michigan 3 years ago where no lawyers are needed for real estate closings. All handled by title company.We purchased house in NY and were told by NY real estate agent that a lawyer was needed for completion of real estate tranactions in NY. Lawyer charged flat fee of $750 did a great job. Am now reselling, house price increased $200,000. Prior lawyer no longer practicing, new lawyer charging flat fee of $1500.00. Couple of questions, is it mandatory to use a lawyer in New York and if yes what are the usual fees. Are the charges based on a flat rate or on hours or on sale price of house or at the lawyers discrection. This is a very simple straight forward sale. Buyers have no house to sell, are putting 20% down and will wait until we are ready to move as long as it is by summertime. Does the lawyers fee of $1500 seem like a fair charge or would I be further ahead to "shop around". Please educate me. Thanks