Thinking of buying a home in George? You might want to consult with a Georgia real estate lawyer. Georgia real estate lawyers can help you in negotiating a contract and also provides assistance with the settlement of your home.
There are usually four kinds of legal fees: there are hourly fee arrangements, contingency fee arrangements, percentage fee arrangements and flat fee arrangements.
The hourly fee arrangement is based on the circumstances surrounding the case and the Georgia real estate lawyer’s expertise. In this arrangement, the client is mostly responsible for miscellaneous expenses such as filing fees, court fees, transcripts and sheriff’s fees. The client will also pay for the time spent in the performance of legal work such as in attending meetings, doing research, drafting documents and making phone calls.
Contingency fee arrangements are most often used in personal injury claims and collection cases, but it can also be used in the settlement of real estate disputes (this payment scheme is not allowed in criminal and divorce cases, though). Under this arrangement, the lawyer will not receive any legal fee unless the client recovers some money. Should the client win the case, the lawyer receives a certain pre-approved percentage of the recovery ranging from twenty five to forty five percent. This percentage depends on the anticipated volume of work, the probability of recovering witness fees and how complex the involved issue is. In cases of appeal, the percentage might go up. The client may also be responsible for out-of-pocket expenses such as filing fees and depositions. Remember that all contingency fees arrangement must be put in writing, bearing the signature of both lawyer and client.
In flat fee arrangements, the lawyer gives a specific legal advice to the client in exchange for a specific sum of money. This type of payment is not usually used in real estate transactions in Georgia, though – it is more applicable in criminal defense matters and also in the preparation of a simple will.
Percentage fee arrangement is sometimes used in the administration of an estate and in the buying and selling of a home. The fee is a fixed percentage of the real estate value.
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Source: www.articlecity.com
