QUESTION

Is $7000 an appropriate amount for an attorney to charge on a closing of a house as a seller?

Asked on Apr 03rd, 2017 on Estate Planning - Illinois
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3 ANSWERS

Commercial Attorney serving Chicago, IL at Ashcraft & Ashcraft, Ltd.
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On its face $7,000 for a closing seems excessive. However, did the attorney handle other matters besides a mere contract and sale transaction? Were there zoning, building code, probate, title clearance or other matters that impact the ability to sell the property that had to be dealt with in order to complete a sale?
Answered on Jun 26th, 2017 at 6:23 PM

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Way out of line.
Answered on Jun 26th, 2017 at 7:58 AM

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Estate Planning Attorney serving La Grange, IL at Law Office of T. Phillip Boggess
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$7000 seems high for a residential real estate transaction. Was that the attorney's fee alone or are you including the compensation as title agent? Depending on the price of the house, the compensation for title agent could easily clear $2500 and maybe a lot more if the price of the house was high enough. Also, the other aspect where the attorney's fee would increase would be if there were additional aspects which needed to be addressed for a sale (i.e.?renter needed to be removed, short sale, etc.).
Answered on Jun 26th, 2017 at 7:53 AM

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