Q:

What is the typical real estate attorney's fee for a residential closing?

A:

Quick Answer

Buyers pay amounts under $500 to over $1,000 for a real estate attorney to represent them during the closing process on a property, according to Zillow. These costs are generally added into the buyer's closing costs. Attorneys are prevalently used at closings in some parts of the country.

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Full Answer

Costs vary greatly by region and the complexity of the transaction, explains ClosingCorp. A real estate attorney who specializes in closings is referred to as a closing attorney. These attorneys review the property's title to ensure there are no issues that could damage their client's interests. They also review the title records of previous sales to ensure there are no errors that could stall the sale. If there are any irregularities found, it is the closing attorney's job to correct them prior to the closing date.

Closing attorneys review and explain all of the documents the buyer signs at the closing and ensure the documents are accurate. The closing attorney is also responsible for verifying that the seller has the legal right to sell the property. The attorney negotiates the terms of the contract between the buyer and seller and explains all contracts to the buyer. In some states, these services are typically handled by title insurance or independent escrow companies, notes ClosingCorp.

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