When do I need a real estate attorney and how much does it cost?

Asked almost 2 years ago - Kansas City, MO

I'm in the process of buying a house directly from the owner (no bank involved). At what times will I need to have a lawyer with me and at about how much will it be? From what I've heard, I will have the lawyer with me when we create the buyer-seller agreement and at closing.

Attorney answers (3)

  1. Leonard Komen

    Pro

    Contributor Level 15

    1

    Lawyer agrees

    Answered . First negotiate the terms of sale and make careful notes of what property in the house you intend to be included - appliances, built in or not; Then bring that information to your attorney to draft the contract or to use the standard Missouri Residential Real Estate Contract. Be sure to include an inspection clause at the minimum. You can expect an experienced real estate attorney to charge $250-$350 an hour and to take several hours to complete the contract negotiations; You can expect another hour or two to review documents necessary for closing and to appear at closing. You should of course obtain title insurance.

    This comment does not create an attorney-client relationship. The law and its application by the courts is... more
  2. M. Todd Miller

    Contributor Level 15

    1

    Lawyer agrees

    Answered . I encourage you to have an attorney from the start as we can normally save you time and money if involved before issues arise. For most RE matters attorneys will likely work by the hour at whatever the prevailing rates are in your area. Good luck.

    NOTE: The use of the Internet for communications with the firm or this attorney will not establish an attorney-... more
  3. Michael T Millar

    Pro

    Contributor Level 19

    Answered . I agree with Mr. Miller - get the attorney involved early.

    If this answer was helpful, please mark it as helpful or as a best answer. This answer is for general education... more

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