Page 88 - HBG 2019-watermarked
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‹   Make sure you are comfortable asking your lawyer for clarification at
           any point, no matter how foolish it may seem to you. If you are intimidated
           or don’t feel you are being taken seriously, that lawyer is not for you.
        ‹   Does the lawyer meet buyers face-to-face for the initial contract review?
           If yes, how long do those meetings typically last?


        What Services Will your Attorney Provide?
        Your lawyer will review the purchase contract and negotiate on your behalf to
        revise any items he feels are not in your best interest.
        Typically, your lawyer also orders the title search and works with the seller’s
        lawyer to clear any title concerns. Once the title and mortgage are settled,
        he will review the closing documents provided by the seller to ensure you
        are receiving everything necessary. He or she will also file the deed with the
        county clerk to register the sale.

        If the home inspection or any other process discover any defects in the home,
        your lawyer will attempt to negotiate a credit against the purchase price to
        cover the cost of repairs. However, be aware that in a strong seller’s market,
        the lawyer will not necessarily have enough leverage to negotiate effectively
        with the seller. It is not advisable to leave the inspection for later in the process
        and hope things work out; it may even be worthwhile to order an inspection
        on a home you are seriously considering prior to signing the contract.
        Your lawyer  will attend  the closing  with you  and  walk you  through  the
        process to ensure nothing is overlooked and that you understand everything.


        Attorney Fees
        Typically, the fees for these services are assessed on a flat fee schedule,
        determined by the details of the sale. Expect to pay anywhere between $900-
        $1800 for a residential closing. These fees tend to be fairly similar among all
        local lawyers, so the attorney’s fees should be among the less significant
        considerations when selecting your representation.
        A retainer between $200-$300 is paid when the lawyer first accepts your
        case, with the balance due at closing. If the contract falls through for any
        reason, the retainer is the entire compensation the lawyer receives, although
        there are some lawyers who will refund that as well.






        88  |  2020 Lakewood Home Buyer’s Guide
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