Search thousands of topics on CostHelper.com

BROWSE ALL TOPICS >> appliances babies & children  cars  consumer electronics health & personal care home & garden personal finance  pets  schools small business weddings
CostHelper > Personal Finance  > Real Estate > Real Estate Contract Review

Real Estate Contract Review Cost


How Much Does a Real Estate Contract Review Cost?

 
low costLow: Reviewing a Standard Contract Can Start $100-$250high costHigh: Assistance Throughout a Purchase Can Run $500-$1,500
post E-mail post Post   Comments (1)

A real estate leasing or sales contract is a legally binding (and often complex) document which dictates the rights and responsibilities of all parties involved, including who pays for what, and what happens if something goes wrong. Having an attorney review the contract before you sign may prevent disputes or surprises later on.

Typical costs:

  • An attorney will typically charge an hourly rate of $200-$500 or more to review real estate contracts. Reviewing a standard two-page lease typically takes about 30 minutes, or $100-$250; longer and more complex documents will cost considerably more, depending on complexity and length -- including attachments, some contracts can be 100-200 pages.
  • An attorney may charge either a flat fee or an hourly rate to guide you through the major steps of the process of buying or selling a home, including attending the closing and reviewing all paperwork. (In some states, only a lawyer is allowed to prepare the home purchase documents, perform a title search and close the sale.) Costs for these legal services run about $500-$1,500 for an average house, according to LendingTree.com.
Related articles: Eviction, Fighting Eviction, Landlord-Tenant Dispute

What should be included:
  • Basically your attorney will verify that the contract and its terms are clear and legally enforceable, explain the technical terms to you, and suggest possible improvements. But a lawyer isn't always needed; Nolo Press lists reasons to hire a real estate attorney.
  • In reviewing the contract, your attorney is your advocate, looking for clauses that might cause problems for you later on or suggesting options that favor your interests. A contract drafted by attorneys representing a landlord, housing developer or home seller may include terms that are more beneficial to the other party than they are to you. A New Jersey man lost the $15,000 deposit he made on a new home because he couldn't sell his existing house and the purchase contract (provided by the home builder) didn't have a contingency clause.
  • If you need to sign a contract before you can meet with a lawyer, write in the phrase "Subject to approval by buyer's/seller's attorney," then see a lawyer as soon as possible.
Shopping for a real estate contract review:
  • Be prepared to meet with the attorney; read through the lease or sales contract, and make notes on anything you don't understand and want the lawyer to explain. Lawyers.com explains how to prepare to meet[1] with a real estate attorney.
  • Referrals to real estate attorneys are available through Lawyers.com[2] and FindLaw.com[3] .
  • Your attorney should provide you with a written fee agreement. If the lawyer is billing on an hourly basis, make sure you understand what's included and what the final cost is likely to be.
post E-mail post Post   Comments (1)
CostHelper News


10 Key Ways to Prepare for Extreme Snow
Forecasters are predicting a true nor'easter will hit the eastern and central states with rain, thunderstorms, ice, snow and high winds over the Thanksgiving weekend. It's crucial to plan ahead, before bad weather hits. || Posted November 26 2013


10 Most Popular Cosmetic Procedures Before the Holidays
With reunions and other get-togethers scheduled during the holiday season, most people want to look their best at this time of year. For some, that means filling in those wrinkles with a bit of botox, or having a nip and tuck down here and there. || Posted November 23 2013

‣ All CostHelper Blog Posts


What People Are Paying - Recent Comments
Best CT contract review firm
Amount: $600.00 total
Posted by: Jessica Flanders in West Haven, CT.Posted: March 30th, 2010 09:03AM
Law Firm: The Funk Legal GroupFee Per Hour: $150.00
My husband and I wanted to sell our small business to our niece. We searched for a firm that can help us and we were referred to The Funk Legal Group. After we sold our business, we got to say we were amazed how affordable and professional thier services were. Not only they spoken to my husband and I regarding what paperwork is going to be involved, but they also coordinated with our Accountant and our real estate broker to make our sale of our business very sucessful!. I recommend The Funk Legal Firm to anyone.
Was this post helpful to you?   yes     no Report prohibited or spam


 

Comment On Your Experience With a Real Estate Contract Review
 
Subject:  *
Amount Spent:  * total
Law Firm: Fee Per Hour: 
Comments: 
Purchased:  Year: 
City:  * State:  *
 
Information about you:
Email:  * Email addresses are not displayed.
Name:  This is the name we'll display with your post.
me on this computer
*=required field.
 



External Resources:
  1.  real-estate.lawyers.com/residential-real-estate/Preparing-to-Meet-with-a-Real-Estate-La...
  2.  www.lawyers.com/real-estate/find-law-firms-by-location/
  3.  lawyers.findlaw.com/lawyer/practice/Real-Estate-Law
More Personal Finance Topics
Check Out All Costs for Personal Finance How Much Do Funeral Flowers Cost? How Much Do Tax Returns Cost? How Much Does Closing a Home Cost?

Search Thousands of Topics on CostHelper.com

 
Today's Featured Cost Articles

About CostHelper
CostHelper is based in Silicon Valley and provides consumers with unbiased price information about thousands of goods and services. Our writers are experienced journalists who adhere to our strict editorial ethics policy.

CostHelper Community
Lizard
Paid: 150.00
The beardie was adopted for $20.00 at a local repticon. Tank was over 30 inch long, cost less than $70-80 at Petsmart during Xmas sale. Everything else were bought online from Dr. Foster, Amazon and Chewy... [more]
-Gaga
Pet Lizard Cost
My Entertainment Company Went Above & Beyond The Call Of Duty
Paid: 2100.00
All I can say is WOW. When I hired Evan Nine Entertainment, I had no idea I was going to get so much extra for my money. His company handled The DJ/MC, Photography, Uplighting, and Wedding Officiant... [more]
-Linda Grayson
Wedding DJ Cost
TTE 93306
Paid: 1208.00
Went for echo at cardiologist's office. Hadn't met deductible and my BCBS estimate online was $408 done in doctor's office. Well, the cardiology office had been acquired by Mission Hospital so they charged their rate which was ~$1980... [more]
-C. V. Wynne, M.D.
Echocardiogram Cost
Broken drain line replacment
Paid: 7600.00
After Roto-Rooter inspected the drain line which could not get passed 35 feet from the cleanout, serviceman suggested for a new cleanout to be installed near the area where the camera could not pass, this at a cost of $1,450... [more]
-#IFEELTAKEN
Sewer Line Replacement Cost
Cost should be capped
Paid: 4550.00
In August of 2014, my husband need to be transported to the helicopter pad at the hospital and we received a bill for $4,550 and when we questioned why so much no one could provide a valid answer. The helicopter pad is less than ... [more]
-dkoz
Ambulance Cost
Cost of topo survey
Paid: 3800.00
Surveyor staked four corners and surveyed entire 4.95 acre lot at 2 ft contours in Issaquah, WA... [more]
-User in WA
Property Survey Cost