How much should I budget for my real estate lawyer fees?
All real estate lawyers and law firms set their own rates when it comes to legal fees. Some lawyers charge a flat fee plus GST, while some lawyers charge their legal fee plus office costs, also known as disbursements, and GST.
At Shory Law we charge our legal fee and then charge our clients penny-to-penny on the office costs plus GST. We believe that the flat fee model may end up charging our client more than what is needed, and we can provide rough estimates of what it could cost you.
In Alberta, real estate lawyers will charge you anywhere between $500 – $2500+ CAD for their legal fees, depending on the purchase price, mortgage amount and the complexities of each transaction. We provide rough estimates, so our clients are not disappointed that they were quoted a flat fee but then end up paying more because of unforeseen circumstances to the law firm. At Shory Law, we advise our clients to budget between $1300-1500 for a purchase of a home under $1,000,000.00 and $800-1000 for the sale of their home under $1,000,000.00. Please contact our office if your purchase price or sale price exceeds $1,000,000.00.
Some of the disbursements you need to be aware of are, but not limited to:
- Alberta Land Title Registration Fees
- Administrative Fees
- Land Title Searches
- City of Calgary Charges
- Office Expenses
- Bank Fees
- Mortgage Fees
- Condominium Fees *if applicable*
This is one of the most important purchases in your life and you should not compromise on quality and customer service in hopes to save $50 here or there at another law firm. We have over 20 years of experience in real estate law and can help you throughout your real estate transaction. We have seen every roadblock and bump in the road and can help you navigate your transaction smoothly.