Posted by Brent_IL on August 20, 2003 at 12:12:41:
Legal fees tend to vary with the income level in the location of the lawyer’s practice. In my area, a simple review by a qualified RE attorney would be around $300.
If you wanted him to re-write the entire contract it might be $900 - $1,000. That’s not a great idea because you are paying him to cut-and-paste. There are pro-buyer RE contracts available on the Internet that can be used as a starting point. Anyone can put together a string of pro-buyer terms. The attorney fees are to make sure that all of the terms interact in a way that doesn?t compromise your objectives.
If you have clauses that are bumping into the securities laws or use elaborate collateral valuation terms, the required cross-discipline expertise is higher, so you’re looking at $5,000 and up.