What is a reasonable cost for a lawyer

[adriano]

Hi all Rein members;
I am dealing on a 25 unit apartment building right now and was wondering what is a reasonable fee to pay for a lawyer to do this transaction? This is in B.C.
I know this is a vague question but I am wondering what others have paid to there lawyers to transact a deal of sorts

 

[Thomas Beyer]

Around $5-8,000 for your lawyer and about the same for bank's lawyer.

 

[Rickson9]

$300/hr

 

[adriano]

Thanks Thomas and Rickson9 . I am in the process right now on a 25 unit building and I got a quote from a lawyer and he is doing it for $5000.00 for representing me and of course I have to pay for the banks lawyer. So I am thinking I am going to be around$8000.00.

 

[Cory Sperle]

Get a quote from the lenders lawyer for fees before you sign the mortgage commitment with them. Expect around $5000 or higher, but get a hard number before proceeding.

 

[Thomas Beyer]

.. he is doing it for $5000.00 for representing me and of course I have to pay for the banks lawyer. So I am thinking I am going to be around$8000.00.

Budget $12-15,000 total and maybe you are keeping a few $s at the end.