When it comes to buying or selling a property, one of the most significant costs to consider is attorney fees. This is particularly true in a land contract arrangement. In such a scenario, the buyer and seller agree to terms for the sale or purchase of the property. The buyer, in turn, pays the seller in installments, with the seller holding onto the title until the buyer completes all payments.

Depending on the complexity of the deal in question, an attorney will charge you differently for services offered. It is the role of the attorney to help both parties understand their rights, obligations, and duties under the land contract. Here are some of the costs you might anticipate paying:

1. The drafting of the land contract – This may include drawing up the terms of agreement and outlining the rights and responsibilities of both parties. The charges may vary depending on the detailed preparations required.

2. Reviewing the land contract – It is advisable to have an attorney review the contract before a buyer or seller signs it. The purpose of the review is to ensure that all clauses are legally binding and that both parties` interests are catered for in the agreement.

3. Negotiations – If the buyer or seller makes changes to the land contract, there is an attorney fee for the negotiation.

4. Filing the Land Contract – If both parties agree to file the land contract with the county clerk, the attorney will charge a filing fee.

In conclusion, you cannot overlook attorney fees when handling a land contract arrangement. However, the cost of hiring an attorney should not deter you from seeking their services. Attorneys ensure that the contract is in order and follow the regulations set by the state. It`s better to pay the price for an attorney now rather than dealing with costly legal issues later.