Personal Finance

Lawyer Fees When Buying a house? [AB]

  • Last Updated:
  • May 27th, 2021 6:47 pm
[OP]
Member
Dec 13, 2014
226 posts
735 upvotes
Edmonton, AB

Lawyer Fees When Buying a house? [AB]

Called a lawyer, he told me fees would be about $1300. I agreed, and then a week later he asked for the bank draft and the bank draft is an extra $2000 what I expected, accounting for his lawyer fees. Is it normal to be paying around $3000 over your down payment in lawyer fees? Something doesn’t seem right but I have to close within the next week so I feel helpless.

I will be seeing the lawyer tomorrow to view the breakdown of fees.
Last edited by RDodds on May 27th, 2021 3:12 pm, edited 1 time in total.
5 replies
Deal Fanatic
Feb 4, 2015
7022 posts
3251 upvotes
Canada, Eh!!
Depends on jurisdiction however the 1300 seemed in line but 3000 way too much.

Suggest wait for feedback from other folks in your part of Canada.
.......
July 13, 2017 to October 25, 2018: BOC raised rates 5 times and MCAP raised its prime rate next day each time.

2020: BOC dropped rates 3 times and MCAP waited and waited to drop its prime rate to include all 3 drops.
Deal Addict
Jan 15, 2017
4333 posts
3916 upvotes
Ottawa
The term "lawyer's fees" is very ambiguous. For some it may be interpreted as just the legal fees that are required, whereas for others what they are actually looking for is the total cost that they have to pay the lawyer that is in addition to the down payment. That total cost usually includes the legal fees, disbursements, title insurance, property tax, property searches and other disbursements.
[OP]
Member
Dec 13, 2014
226 posts
735 upvotes
Edmonton, AB
skeet50 wrote: The term "lawyer's fees" is very ambiguous. For some it may be interpreted as just the legal fees that are required, whereas for others what they are actually looking for is the total cost that they have to pay the lawyer that is in addition to the down payment. That total cost usually includes the legal fees, disbursements, title insurance, property tax, property searches and other disbursements.
Do you think $3000 is fair for all of the above mentioned?
Deal Addict
Jan 15, 2017
4333 posts
3916 upvotes
Ottawa
RDodds wrote: Do you think $3000 is fair for all of the above mentioned?
Yes it is. One big charge when buying a home is the reimbursement of any property taxes that have been paid by the current owner.
Deal Addict
Jan 28, 2009
1964 posts
520 upvotes
Calgary
The law firm requested 3k because there will be disbursements on top of their fee. They should provide a full reckoning of their account once the file has closed and refund you any residual.

Top