Lawyer fees

Posted by geo.nova on January 6, 2007, 11:45 pm

Hi,
Just wondering if anyone can tell me what a standard or reasonable rate
for lawyer title search fee would be for a typical house purchase. Also
if there are any fees that we should be aware of. Location is New
Hampshire if it matters.
Thanks in advance,
GE

Posted by Todd H. on January 7, 2007, 2:42 am

geo.nova@hotmail.com writes:

I happen to have a HUD1 from a sales transaction (albeit not my own)
in Chicagoland handy.

Under line 1108 Title charges, the borrower paid $275 (on 270k loan
amount) for lender's policy, and the seller paid $1110 (on 330k sale
price) for owner's policy in title charges.

Title search is done, I believe as part of the title insurance
issuance process.

Best Regards,
--
Todd

Posted by Bill on January 7, 2007, 1:36 pm

When I purchased my house, this was handled by a title company. I can't
imagine going to a lawyer instead of a title company???

Posted by Todd H. on January 7, 2007, 5:14 pm

At least here in IL it's not uncommon for title companies to pay one
of the lawyers involved in the transaction to do this work.  I know my
lawyer, if closing is happening at the title company of his choosing,
ends up doing the title work himself quite a bit of the time.  On the
HUD1, you'll see that those title fee charges then will be due to
"Title Company Name/ Attorney Name" rather than to the title company
alone.

Best Regards,
--
Todd H.
http://www.toddh.net/