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Is this a standard clause for attorney fees?
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ruby
you rang?
Member since 6/08 5573 total posts
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Is this a standard clause for attorney fees?
The paperwork says the basic fee is $995. In the event that your transaction requires extraordinary time and work beyond a normal closing you will be charged our usual hourly rate of $200 per hour. Extraordinary time includes excessive telephone calls, payments of judgements or to creditors as required by your lender, service of Time is of the Essence corrrespondence, etc.
He came highly recommended, spoke with him on the phone and genuinely liked him, our realtor has worked with him before, he lives in the community. Just wanted to make sure this was standard...
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Posted 3/9/10 11:01 AM  |
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Prudential Douglas Elliman Real Estate
Long Island's Largest Bridal Resource | Long Island Weddings |
ave1024
I Took The Wrong Road
Member since 12/07 6153 total posts
Name:
That Led To The Wrong Tendencies
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Re: Is this a standard clause for attorney fees?
I don't think it's standard.
There are plenty of RE attornies out there. $995 is high enough.
Tell him $995 "contract to closing" with no additional clauses or you will find someone else.
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| Posted 3/9/10 11:04 AM |
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Pray4Baby2010
<3 Cutest Giants Fan
Member since 10/09 5796 total posts
Name:
MB
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Re: Is this a standard clause for attorney fees?
Ours didnt have a clause like that at all- in fact ours actually encouraged us to call ANYTIME we had a question- JMO, but I would be afraid to call when I had questions.
If you want I can send you the name of our attorney- she is in Garden City but we never had to go to her office- everything was done over the phone, fax up till the closing
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| Posted 3/9/10 11:06 AM |
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ruby
you rang?
Member since 6/08 5573 total posts
Name:
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Re: Is this a standard clause for attorney fees?
Posted by Pray4Baby2010
Ours didnt have a clause like that at all- in fact ours actually encouraged us to call ANYTIME we had a question- JMO, but I would be afraid to call when I had questions.
If you want I can send you the name of our attorney- she is in Garden City but we never had to go to her office- everything was done over the phone, fax up till the closing
Thanks but we're moving to Jersey so she'd need to be there.  When I spoke to him he didn't discourage me from calling at all, he said to call or email anytime, whatever is best for me. My realtor said when she's worked with him before he was always quick, concise and got the job done efficiently. I'm going to call and ask him about it.
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| Posted 3/9/10 11:11 AM |
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suvenR
designer mutt
Member since 5/05 4239 total posts
Name:
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Re: Is this a standard clause for attorney fees?
I had that in my attorney agreements both times we bought a property. We weren't charged anything extra either time. The first time, there was some "back and forth" on the day of our closing because the condo apparently sustained some damage while the sellers were moving out. The second time, we did have to serve Time Of Essence documents and all kinds of crap because my buyers went MIA at the end of the transaction. We weren't billed anything extra for that, either. We used two different lawyers- each with the same clause- but neither ever billed us for anything extra.
I would call and ask him to give you examples of instances where he'd need to charge you extra. But, if he comes highly recommended, I wouldn't dump him over that.
Message edited 3/9/2010 11:52:27 AM.
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| Posted 3/9/10 11:51 AM |
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alli3131
Peanut is here!!!!!!
Member since 5/09 18388 total posts
Name:
Allison
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Re: Is this a standard clause for attorney fees?
I think what he is calling extraordinary is reasonable. Maybe ask what he considers excessive telephone calls. But the other things would be extra in any RE closing.
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| Posted 3/9/10 12:31 PM |
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