Do any American lawyers offer no sale no fees?

Getting Started
1

Hi everyone,

I am a newbie here. My partner and I are both real estate investors and we are looking to expand into the US land market. Just want to say first of all what a fantastic website this is and we have both learned so much from listening to the podcasts. Seth seems like a very cool guy and really knows his stuff. We are based in Europe but have both lived in the US. One thing we both absolutely love is the fact that Americans are so positive and open which we find incredibly motivational and inspiring.

Anyway my question is,in England for example there are many lawyers who offer a no sale no fee service for property conveyancing. Is this also possible in the US or perhaps only in some states? We are just wondering if it is possible to do a double close without any up front costs or risks if the sale falls through for any reason?

Many thanks in advance and have a great day:joy:

2

@petra123 I think this can essentially happen as you’re describing in the U.S. The main difference is that in most states, the kind of property conveyance (we call them “closings”) is done by a title company (also known as escrow office in some areas). These title companies usually work a similar way, in that, if the deal doesn’t close, they don’t get paid.

3

@charlotteirwin

Thanks very much Charlotte,that is good information to have.

4

There are some States that use attorney’s for closings instead of Title companies. If I recall correctly, Georgia and New York are examples of this.

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@tmiski Thanks,that is also good to know.