Does anyone have a contact for a trusted closing attorney in upstate NY? Preferably someone who will represent both parties. I keep getting quoted around $1500 per party. 3k in just the legal fees sounds absurd for vacant land. Any recommendations would be greatly appreciated.
Also, any tips on trusted land-specialized agents who work upstate would be great.
Thank you for your help Re Tipster community.
@lcb that does sound high for a cheap vacant lot, but it’s probably perfectly reasonable for larger deals.
This could be one reason to either stay out of NY or selectively go after deals that are big enough to make this added cost easy to justify.
The quote you received is in line with my experience in NY ($2600-$3200). Cheap land doesn’t mean cheap closing costs there. It seems crazy to buy for $5K and pay $3K in closing costs to buy (if you’re paying for both sides) and another $1500 to sell. You’re paying $9500 in my example for a $5000 acquisition. That and the time it takes to close in NY are two reasons I don’t buy there anymore.