Are you curious about the costs of hiring a real estate attorney? Whether you’re buying, selling, or involved in a commercial transaction, understanding real estate attorney fees is crucial. From flat fees for residential deals to hourly rates for commercial projects, these costs can vary. In this video, we break down what you can expect to pay and why. Watch the video now to learn more!

 

When it comes to real estate transactions, whether residential or commercial, having the guidance of an experienced attorney can be invaluable. We’ll explain the costs associated with hiring an attorney for a real estate transaction and what you should expect when working with one.

 

Residential Transactions: Flat Fee Structure

For residential real estate transactions, I typically charge a flat fee of $650. This fee covers the essential legal services required during the buying or selling process. If you are involved in both buying and selling, we may offer a reduction in fees to accommodate the dual transaction.

It’s important to note that in addition to the attorney’s flat fee, there are title fees that both parties in a transaction typically pay. These fees help compensate the attorney for work done on behalf of the title company, which is a crucial part of finalizing the sale. This is a common practice that isn’t always disclosed upfront, but it ensures that the attorney’s services remain accessible while also providing fair compensation for their efforts.

 

Commercial Transactions: Hourly Fee Structure

For commercial real estate transactions, the fee structure is different due to the increased complexity often involved. In these cases, I negotiate an hourly fee that ranges from $300 to $450, depending on the specifics of the transaction. A retainer is usually required upfront to cover initial services, with the total cost varying based on the complexity and time required to complete the transaction.

Understanding these fee structures is crucial for anyone entering a real estate transaction, as it helps you budget accordingly and ensures that you receive the necessary legal support throughout the process. The flat fee for residential transactions offers predictability and peace of mind, while the hourly rate for commercial deals provides flexibility to address the unique challenges these transactions often present.

If you’re planning a real estate transaction and need legal assistance, please don’t hesitate to reach out to us at (847) 577-4476.