How much are your lawyer fees these days?
I checked with a Lawyer about fees and was told that he charges approx $3000 for closing on park deal. Approx sale price is 350k if that has any bearing.
Just wanted to make sure this is in line before getting him to handle my legal affairs.
Thanks people.
Go Cats
Louvie, I am about to start due diligence on a $375,000 park. I received this quote from an attorney for the legal costs… 60 year title search - $250.00deed stamps(transfer tax) $1387.50title insurance - $1,017.50attorney fees - $750.00deed, note and mortgage prep - $400.00filing fees (if no survey to be recorded) - deed $10.00; mortgage $15.00release of prior mortgage if any - $5.00 eachcopy costs - $30.00overnight fees if needed - $30.00/shipmentWe don’t procure mobile home titles and are not responsible for titling. Its cost prohibitive to the client to pay me for the time standing in line and dealing with the DMV. On owner financing, the seller would sign the titles over to the buyer, but procure the new titles, listing the sellers mortgage on the titles and hold the titles until the mortgage is paid off. Then seller signs off on the titles saying the lien is released and gives them to the buyer who then procures new titles with no lien noted. It operates just like a car title.
Nice break down. Thanks.