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Answers (3)
- Daniel Hamad, "AttorneyHamad"
- Contributions:146
Yes, Mr. Mulrooney is (partially) correct. If you're asking about full cost (basically non-negotiable items) then there is also the cost of the title search (usually about $250 for the full search) and the cost of title insurance (attorneys get 60% in CT... much less than other states).
I do disagree with his Fairfield County quote though. While some attorneys may charge the rates he's quoting, I've never worked anywhere that does. We always charge the same no matter where in the state the work is, and we encourage clients to come to us before signing the contract, even when they have a good real estate agent. We like to review the contract and suggest things that the agents may have missed - or at least confirm that they haven't missed anything. Come early - there's no reason to wait on selecting an attorney.
In short: Fairfield County or no, we do all review/negotiation requested of us, for flat (and the same) fees, as to the firms I worked at before opening my own.
I have no trouble imagining there are other firms that do things that Mr. Mulrooney suggests, but that certainly is not the only (or even necessarily the average) way to go.
I do disagree with his Fairfield County quote though. While some attorneys may charge the rates he's quoting, I've never worked anywhere that does. We always charge the same no matter where in the state the work is, and we encourage clients to come to us before signing the contract, even when they have a good real estate agent. We like to review the contract and suggest things that the agents may have missed - or at least confirm that they haven't missed anything. Come early - there's no reason to wait on selecting an attorney.
In short: Fairfield County or no, we do all review/negotiation requested of us, for flat (and the same) fees, as to the firms I worked at before opening my own.
I have no trouble imagining there are other firms that do things that Mr. Mulrooney suggests, but that certainly is not the only (or even necessarily the average) way to go.
This is not legal advice and is not intended to create an attorney-client relationship. The post is only an opinion. You should speak to an attorney for further information. The poster is licensed only in CT & NY. If this post is useful to you, please remember to upvote it.
- Jack Mulrooney, "ConnecticutRealtor"
- Contributions:484
Hi norah, Attorneyhand is in the ball park but not in complete in disclosure.
In Fairfield County with contract work, closing documents, title search and miscellaneous items the charges run more in the $1250 to $1850.00....
In the rest of the State the Realtors do the majority of the contract work and the attorneys do the title search and closing documents. Attorneys in these areas normally run $850 to $1250.
Also, in the interest of full disclosure, the buyer's attorney also represents the title insurance company and receives upwards of 70% of the title insurance charge as agent for the title company.
What is most important no matter what area you are looking in is that you have a good REALTOR and an attorney who is well experienced as a :REAL ESTATE" attorney. Real Estate law in Connecticut has many quirks and allowances in the normal course outlined in the attorney's "Practice Book". Attorneys who are not specifically "Real Estate Attorneys" are usually not familiar with the major differences from normal contact law.
- Daniel Hamad, "AttorneyHamad"
- Contributions:146
Usually a fixed cost. I usually charge in the $500-600 range, depending on the property, for example.
Remember that you can choose any attorney you want, as long as the bank will approve them.
I have seen some attorneys charge by the hour, but I have no idea why anyone would pay those kind of fees for a closing.
I hate to sound like advertising, but since this is directly up my alley, let me know if I can be of any assistance.
Remember that you can choose any attorney you want, as long as the bank will approve them.
I have seen some attorneys charge by the hour, but I have no idea why anyone would pay those kind of fees for a closing.
I hate to sound like advertising, but since this is directly up my alley, let me know if I can be of any assistance.
This is not legal advice and is not intended to create an attorney-client relationship. The post is only an opinion. You should speak to an attorney for further information. The poster is licensed only in CT & NY. If this post is useful to you, please remember to upvote it.
Average Cost of attorney closing costs
I am looking to purchase my first home and am wondering what the average attorney fees are for home closings in the Fairfield County area of CT. Is it usually a fixed cost or do some attorneys charge by the hour?
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