Buying a house - have to use an attorney?
#1
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Joined: Jul 2003
Location: New York City
Posts: 611
Buying a house - have to use an attorney?
Hi:
We're thinking of buying a house in Queens, New York. I heard that in NY you have to use an attorney to buy a house. I was just wondering if this is true and what the approximate cost is.
Any experiences welcome!
Cheers
Peter
We're thinking of buying a house in Queens, New York. I heard that in NY you have to use an attorney to buy a house. I was just wondering if this is true and what the approximate cost is.
Any experiences welcome!
Cheers
Peter
#2
Gurning up a storm!
Joined: Jan 2005
Location: Just moved back to NH from UK after the wife and I tried living in UK
Posts: 80
Re: Buying a house - have to use an attorney?
Sorry, cant help you - havent got a clue...nope...nada..zip.....ummm........yep, I'm bored too....
#3
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Joined: Jan 2005
Location: Chicago
Posts: 6
Re: Buying a house - have to use an attorney?
I don't know for certain, but it's unlikely that you need to use a lawyer in NY, I know that you don't for IL (Chicago).
Most lawyers will charge a flat rate for a "house closing" of around $400-500, as compared to a typical hourly rate of $200-500. In my opinion, not using a lawyer is a very bad idea, the possible costs of something going wrong can easily be in the range of thousands of dollars.
My wife used to practice law and did a lot of real estate stuff, things can and do go wrong all the time. Its a good idea to use a lawyer who does a lot of real estate work, your realtor most likely has a few that they have worked with in the past.
Good luck.
Most lawyers will charge a flat rate for a "house closing" of around $400-500, as compared to a typical hourly rate of $200-500. In my opinion, not using a lawyer is a very bad idea, the possible costs of something going wrong can easily be in the range of thousands of dollars.
My wife used to practice law and did a lot of real estate stuff, things can and do go wrong all the time. Its a good idea to use a lawyer who does a lot of real estate work, your realtor most likely has a few that they have worked with in the past.
Good luck.
Originally Posted by Peter Newton
Hi:
We're thinking of buying a house in Queens, New York. I heard that in NY you have to use an attorney to buy a house. I was just wondering if this is true and what the approximate cost is.
Any experiences welcome!
Cheers
Peter
We're thinking of buying a house in Queens, New York. I heard that in NY you have to use an attorney to buy a house. I was just wondering if this is true and what the approximate cost is.
Any experiences welcome!
Cheers
Peter
#4
Re: Buying a house - have to use an attorney?
Originally Posted by AlastairUS
I don't know for certain, but it's unlikely that you need to use a lawyer in NY, I know that you don't for IL (Chicago).
Most lawyers will charge a flat rate for a "house closing" of around $400-500, as compared to a typical hourly rate of $200-500. In my opinion, not using a lawyer is a very bad idea, the possible costs of something going wrong can easily be in the range of thousands of dollars.
My wife used to practice law and did a lot of real estate stuff, things can and do go wrong all the time. Its a good idea to use a lawyer who does a lot of real estate work, your realtor most likely has a few that they have worked with in the past.
Good luck.
Most lawyers will charge a flat rate for a "house closing" of around $400-500, as compared to a typical hourly rate of $200-500. In my opinion, not using a lawyer is a very bad idea, the possible costs of something going wrong can easily be in the range of thousands of dollars.
My wife used to practice law and did a lot of real estate stuff, things can and do go wrong all the time. Its a good idea to use a lawyer who does a lot of real estate work, your realtor most likely has a few that they have worked with in the past.
Good luck.
#5
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Joined: Oct 2002
Location: Connecticut
Posts: 920
Re: Buying a house - have to use an attorney?
Yes you do. In NY state it is the law that a lawyer has to be part of the process for buying a house. the price depends on the cost of the house normally. We are on Long Island (Suffolk County) and I still have the name of the broker who we used if it is of any help. You could also ask a realtor. They should know and be able to give you an idea of cost.
If you want to know how much ours cost then you can PM me and I'll let you know. We bought our home over 4 years ago.
If you want to know how much ours cost then you can PM me and I'll let you know. We bought our home over 4 years ago.
#6
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Joined: Jun 2004
Location: New York
Posts: 475
Re: Buying a house - have to use an attorney?
I very much doubt in NY you can get away with $400 - don't expect any change out of $1000. Closing costs are high in NYS.