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03-16-2009, 01:48 PM
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Member
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Join Date: Nov 2007
90 posts, read 91,465 times
Reputation: 21
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Anybody refinance lately? Real estate attorney?
We're planning to refinance soon (found a 5% rate) and were wondering what we should expect to pay the real estate attorney. If you remember what you paid please let me know.
thanks,
t
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03-16-2009, 10:33 PM
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Senior Member
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Join Date: Mar 2009
123 posts, read 56,394 times
Reputation: 49
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A friend of mine just refinanced 200k @ 4.5%...his closing costs were about 10k total...don't know what the breakdown was.
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03-17-2009, 03:02 AM
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Senior Member
Status:
"Is a return to Long Island in my future?"
(set 23 days ago)
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Join Date: Nov 2007
Location: Long island,New York
2,902 posts, read 1,108,491 times
Reputation: 408
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most are under $1000. If I remember correct I think its in the range of 500-800
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03-17-2009, 08:28 PM
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Real Estate Agent
Status:
"Leaves, too many leaves..."
(set 24 days ago)
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Join Date: Jul 2008
Location: Huntington
1,912 posts, read 865,456 times
Reputation: 441
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Quote:
Originally Posted by Lancet71
most are under $1000. If I remember correct I think its in the range of 500-800
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I don't remember the last time a RE attorney charged $500 (and my memory is still pretty good  )! |
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03-18-2009, 09:27 AM
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Senior Member
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Join Date: Feb 2008
307 posts, read 193,328 times
Reputation: 41
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I haven't done it, but I'm not sure why you need an attorney to refinance.
Seems like a complete waste.
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03-18-2009, 09:44 AM
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Real Estate Agent
Status:
"Leaves, too many leaves..."
(set 24 days ago)
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Join Date: Jul 2008
Location: Huntington
1,912 posts, read 865,456 times
Reputation: 441
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Quote:
Originally Posted by Chrisk327
I haven't done it, but I'm not sure why you need an attorney to refinance.
Seems like a complete waste.
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Unless it's a modification, refinancing is like a closing, just without buyers...
If you fully understand the process and know what you're doing, you could probably do without - some people do.
Again, IF you FULLY understand, etc. This could be an area of Penny wise and Pound foolish... But certainly not required by law. |
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03-18-2009, 11:36 AM
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Member
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Join Date: Nov 2007
90 posts, read 91,465 times
Reputation: 21
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Thanks everyone. After calling several LI attorneys and being quoted 750-1000, I called our local Ozone Park real estate office and got a good recommendation for a neighborhood attorney that only charges $200. What a difference.
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03-18-2009, 09:30 PM
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Real Estate Agent
Status:
"Leaves, too many leaves..."
(set 24 days ago)
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Join Date: Jul 2008
Location: Huntington
1,912 posts, read 865,456 times
Reputation: 441
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Quote:
Originally Posted by Teresa1127
Thanks everyone. After calling several LI attorneys and being quoted 750-1000, I called our local Ozone Park real estate office and got a good recommendation for a neighborhood attorney that only charges $200. What a difference.
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Good for you! Sounds like this attorney realizes that a refi doesn't involve much work--and s/he must be "hungry", because that doesn't even cover an hour's worth of work. Whatever, it saves you $$  |
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03-20-2009, 05:31 AM
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Not a member
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Join Date: Jan 2009
Location: Miller Place NY
1,054 posts, read 545,484 times
Reputation: 67
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Watch the "hidden" charges FROM EVERYONE, including your attorney.
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03-20-2009, 09:23 PM
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Member
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Join Date: Feb 2009
22 posts, read 10,455 times
Reputation: 10
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Chase just told my husband refinancing to a lower rate would cost a bit under $4000. The rate quoted was 4.5. We have to have a new appraisal done on the house which is included in that number.
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