Search thousands of topics on CostHelper

BROWSE ALL TOPICS >> babies & children  cars  consumer electronics health & personal care home & garden personal finance  pets  schools small business sports 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 Post   Comments (2)  

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 Post   Comments (2)  
CostHelper News


7 Ways to Stretch Your Reduced Food Budget
End of the year budgets are tight for everyone, especially in this economy.It's especially hard for the millions of Americans who depend on government programs like food stamps to help make ends meet. || Posted November 11 2013


Fix-it Favorites: Duct Tape and WD-40
My mother taught me that all home fixit-projects can be accomplished with either duct tape or WD-40. If something shouldn't move and it does, use duct tape. If something should move and it doesn't, use WD-40. || Posted September 30 2013

‣ All CostHelper Blog Posts


What People Are Paying - Recent Comments
Discloser/ land lot 76 astion creek rd
Amount: $1,950.00 total
Posted by: Edward Dudley/ buyer of of Interest in Villa rica, GA.Posted: April 24th, 2016 07:04AM
Law Firm: 770 834-4467Fee Per Hour: $200.00
We are still searching, in possible, liens against the property we are still uncertain about two applicants that have a possible and that we are verifying and will get back to you as soon as the information is available upon us.
Was this post helpful to you?   yes     no Report prohibited or spam
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-Esta...
  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
Replace Toilet Wax Ring (DIY)
Paid: 25.00
Cost could have been cheaper, but previous owners hired a plumber and contractor who didn't do the job right. So we ran into problems. The first wax ring didn't work, so we had to buy the old fashioned type... [more]
-JT Holm
Toilet Repair Cost
Plumbing totourial
Paid: 0.00
I am appalled by some of these charges myself and yes plumbers have a hard,disgusting and exhausting job and it’s not for everyone... [more]
-Caleb Domec
Plumber Cost
Ischemic stroke
Paid: 89000.00
I had a CT scan, they called helicopter to transfer to trauma hospital in Atlanta, but neurosurgeon there said the stroke is is I n a deep area, and would be too dangerously to remove the clot surgically... [more]
-Marie-Jose
Stroke Treatment Cost
Connective tissue graft
Paid: 1300.00
Had to get a connective tissue graft for three of my teeth on my lower left and likely will need a few more done down the road (genetics). The procedure took about an hour and was pain-free... [more]
-
Gum Tissue Graft Cost
Alaska propane pricing 2020
Paid: 130.71
No contract price is $3.87 x 32.8 gallons + $3.81 fee = delivered remote Cooper Landing Alaska. New contract renewal $1.91/gallon for delivery plus propane cost which I need to check on... [more]
-Keith Mantey
Propane Cost
Funeral
Paid: 160.00
Can somebody contact me... [more]
-Terrance Samuel
Releasing Doves Cost