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How much does a real estate attorney cost?
How much does a real estate attorney cost?
$150 – $500 average cost per hour
$500 – $2,000 average total cost
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Average real estate attorney cost
Hiring a real estate attorney costs $150 to $500 per hour on average. Some charge a $500 to $2,000 flat fee at closing instead. Real estate lawyers charge less for simple residential home sales. These cases take less time and effort than complex cases involving disputes, short sales, foreclosures, or delays.
Fee type | Average cost |
---|---|
Hourly rate | $150 – $500 |
Flat fee | $500 – $2,000 |
Hourly rate
The average real estate attorney's hourly rate is $150 to $500, depending on their experience level and your case’s complexity. Hourly rates are the most common fee structure for lawyers, who often keep track of their time in 6-minute increments (one-tenth of their hourly rate).
Flat fee
Real estate lawyers sometimes charge a one-time fee of $500 to $2,000 instead of an hourly rate. The total cost depends on the type of case and how complex they expect it to be. Fixed fees are more common for simple residential sales.
Drafting or reviewing a simple contract may cost as little as $400 to $700. However, this doesn't include any help with negotiations or closing. More complex cases cost $1,500 to $5,000 and may involve short sales, liens, or disputes.
What is a real estate attorney?
A real estate attorney represents clients during the sale or purchase of property. They advocate for clients, draw up paperwork, review contracts, and help mediate if there are any disputes or issues. Some states require hiring a real estate attorney when buying or selling a home.
Real estate lawyer cost factors
The following factors affect the cost to hire a real estate lawyer:
Location: Attorneys in urban or affluent areas naturally have higher rates than those in rural areas. Washington D.C. has the highest average hourly rates for lawyers in the country.
Experience: Experienced attorneys with good reputations and high success rates tend to charge more than average.
Complexity: The more time and effort an attorney spends on your case, the more they’ll charge. A simple home closing takes less time than short sales, buying a foreclosure, or cases with contract issues.
Property type: Real estate lawyers typically charge less for residential homes because those cases tend to be simpler. They may charge more for commercial properties, multi-family homes, or mixed-use properties.
Consultation: Most real estate lawyers offer free consultations, while some charge for this time and add it to their bill. If you only need a state-required attorney to oversee your closing, you probably won’t need a consultation.
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When to hire a real estate attorney
You may need a real estate attorney to sell or buy a home, depending on your location and the lender’s requirements. The following sections lay out common circumstances that require real estate lawyers, although you may want to hire one even if it’s not mandatory.
State law
Many states require hiring a real estate attorney (or closing attorney) during the property transaction. These include:
Alabama
Connecticut
Delaware
Georgia
Kentucky
Massachusetts
New York
North Carolina
South Carolina
West Virginia
These states only require a real estate attorney to certify the title or deed to make sure there are no issues:
Louisiana
Maryland
Mississippi
North Dakota
Rhode Island
Vermont
Wyoming
Laws can change frequently, so be sure to ask a real estate agent or attorney what your state currently requires before you start the buying or selling process.
Lender requirements
Sometimes your mortgage lender may require you to hire a closing attorney or real estate lawyer to be part of the buying or selling process. This gives the lender peace of mind by making sure the closing and related documents meet all legal requirements.
Complex transactions
Complicated cases require much more time and effort than straightforward cases and may cause delays and setbacks. Having an attorney can make the process go more smoothly in the following situations:
Short sales or foreclosures
Disputes, liens, or structural damage
Zoning or property line issues
Divorce and property division
Other attorney costs by type
If you are selling a home due to divorce, managing an inherited property, or dealing with the tax implications of a sale, you may need another lawyer with a different specialty. Most attorneys cost about $100 to $400 per hour. The following table shows the average hourly rates of lawyers and attorneys in different fields:
Lawyer type | Average hourly rate |
---|---|
Divorce attorney cost | $100 – $400 |
Family law attorney cost | $200 – $500 |
Tax attorney cost | $200 – $400 |
Wills attorney cost | $150 – $400 |
Eviction lawyer cost | $150 – $400 |
Real estate attorney FAQs
What does a real estate attorney do?
A real estate attorney handles the legal aspects of transferring property from a seller to a buyer. They can protect clients from risks and understand the property laws of your state. Specific tasks may vary depending on whether the seller, buyer, or title company hires the attorney, but they usually include:
Draft or review the contract
Negotiate the terms of the contract
Give advice and resolve any issues
Review the deed or title
Perform a title search
Resolve any disputes between the buyer and seller
Assist with the closing
Explain all documents before you sign them
Can a lawyer be a real estate agent?
A real estate attorney can also be a realtor if they meet the educational and licensing requirements, but this is somewhat rare and may be considered a conflict of interest.
Real estate lawyers focus on the legal aspect of buying or selling property and protecting their client’s interests. Real estate agents help with marketing and finding homes for their clients. Some of their duties, like preparing contracts, may overlap, but only a real estate attorney can offer legal counsel.
Who pays real estate attorney fees at closing?
If your state requires a real estate lawyer, they will generally include their fees in the closing costs. Either the buyer or seller will pay them, depending on how the closing costs are assigned in your contract. If you hire an attorney on your own, you’re responsible for paying them.
Getting estimates from real estate lawyers
Follow these steps when looking for real estate attorneys near you:
Compare reviews of attorneys on Lawful and Google.
Confirm their credentials and ask about their rates.
Pick a lawyer you’re comfortable with.
Choose a law firm close to you if possible.
Ask for a contract in writing before starting any casework.
Questions to ask real estate attorneys
Buying or selling a home can be life-changing, so it’s important to hire reliable help. When shopping around for representation, you should ask these questions:
How long have you been practicing real estate law?
When did you pass the bar exam?
Can you give me any references or testimonials from past clients?
What do you charge per hour?
Do you charge flat rates for simple residential cases?
Can I consult with you for free?
How do you handle any disputes or issues with the property?
Do you have enough time to take on my case?
How long do you expect this will take?
Can you give me a written, detailed contract?