Legal Representation of Buyers and Sellers of Residential Real Estate
Representation of Buyer Only (Not the Lender)
My usual flat fee is between $850 and $1,000 depending on the particulars of the transaction. My fee includes reviewing all of the seller conveyancing documents and the loan documents prepared by the lender’s attorney.
In my representation of the buyer, whether I am representing the lender or not, I will provide the following services:
- Review the offer to purchase
- Extend the date to sign the purchase agreement and sale agreement, if necessary
- If a condominium, review the condominium documents and speak with a trustee or property manager and review the condominium documents with you
- Prepare, negotiate, and finalize the purchase and sale agreement
- Review the purchase and sale agreement with you in my office if you wish or on the telephone
- Extend the mortgage commitment deadline in writing, if necessary
- Review the mortgage commitment letter
- Coordinate the closing with the conveyancing attorney
- Review the settlement statement with you
- Prepare a declaration of homestead
- reviewing all of the seller conveyancing documents and the loan documents prepared by the lender’s attorney
Representation of Buyer and Lender
When representing both the buyer and lender, I charge a reduced fee of $500.00 to represent the buyer and between $500 and $700 to represent the lender. If I am representing the buyer, I normally represent the lender as well. Many lenders are willing to be represented by the buyer’s attorney. You simply need to request this option to the lender and they will take the appropriate steps to complete the necessary paperwork to realize this option.
I will provide all of the services to the buyer as set forth above. In addition, I will represent the lender by obtaining a title examination, municipal lien certificate, and plot plan, if necessary. I will prepare the loan documents, including the settlement statement, and facilitate the closing. I am a title insurance agent and I will write the title insurance policy for both the lender and the buyer.
The title examination will cost approximately $200. The plot plan will cost $150.
Representation of the Seller
My flat fee for representing a Seller ranges from $850 to $1000 depending on the particulars of the transaction. This flat fee covers my usual services provided to a Seller from the Offer stage through and including a “mail away” closing. A “mail away” closing is one where you come to my office and sign all of the seller closing documents and I FedEx those documents to the bank attorney for the buyer. In other words, none of us will appear at the actual closing.
In my representation of the seller, I will prepare the deed as well as provide all the applicable services provided to buyers.
Comprehensive Real Estate Services
I also represent homeowners in residential refinancing mortgages, real estate developers, and owners of multifamily houses.