pixel_of_moral_decay t1_ja9ewux wrote on February 27, 2023 at 8:33 PM

Reply to comment by Puzzlekitt in How much does a real estate lawyer cost for a standard condo purchase in JC? Looking to get an idea based on your experience. by ilikeUni

I saw over $2k, and as little as $1k calling a few. Yours seems pretty in line with what I’d say is average. I think I spent around the same.

It really depends on the transaction. Foreclosures, title issues, legal issues the HOA is encountering, even some easements may mean you’ll need a lawyer to really dig into what you’re getting involved in. There’s a premium for that.

For a typical closing? 1500ish seems about right.

Regardless, you’re talking a fraction of a percent of the purchase price. No need to cheap out or bargain shop. IMHO just pick the lawyer who spends a few minutes asking some good questions about your purchase and sounds like they’ve got something to offer. They’re literally the only person who’s acting on your behalf in the transaction. And you’ll deal with them a bit. So someone you feel has your interests in mind, and feel comfortable working with is worth an extra couple dollars.

ilikeUni OP t1_ja9l2fw wrote on February 27, 2023 at 9:12 PM

I appreciate you saying to not cheap out on the lawyer at a fraction of the cost of the purchase, that put things into perspective. My real estate agent recommended someone to me so if the price is not outrageously higher than the rest, then I wouldn’t even shop around further. I rather go in recommendation than not.

Puzzlekitt t1_jaaj9kq wrote on February 28, 2023 at 1:05 AM

You can message me if you want some choices. I’ve had the same 3-4 lawyers recommended to me through various agents in this city.

HobokenJ t1_jaczf61 wrote on February 28, 2023 at 3:33 PM

This. Your realtor is NOT a fiduciary, nor do they have any legal requirement to act in your best interests (and it is in their best financial interests to align with the listing agent on most matters). Your lawyer is the only person who is truly in your corner during this transaction.

That said, $1200-$2000 is about right for a standard, residential closing (I probably wouldn't go with your realtor's rec).

EDIT: OK, I misspoke due to my disdain for the real estate industry. Yes, realtors do have a nebulous legal obligation to "act in the best interests" of their client--as does any fiduciary. But see comment below as to why they rarely do.