Real Estate Contract Cost

Clients Rate Lawyers on our Platform 4.9/5 Stars
based on 4,123 reviews

Jump to Section

Need help with a Real Estate Contract?

Post Project Now

What does a real estate contract cost? If you are participating in a real estate transaction, you may want to know how much this contract will cost. Let’s explore this question and review some general information about real estate contracts.

How Much Does a Real Estate Contract Cost?

A real estate contract is a legally binding agreement that outlines the terms and conditions surrounding the sale and purchase of a property. This document is executed by the party selling the property and the party agreeing to buy the property.

This contract will cover important details about the real estate transaction including:

  • Finance terms
  • Home inspection
  • Fixtures and appliances
  • Closing date

The contingency clauses in a real estate contract are especially important because if a contingency is not met during the specified period, the real estate contract may be voided, and the seller could walk away from the deal along with their deposit.

Real estate contracts are vital documents for buying or selling a home and they must be in writing to be legally enforceable. It is common for a parties involved in a real estate transaction to hire an attorney to draft this contract.

A real estate lawyer will have the knowledge and experience needed to draft a comprehensive real estate contract that protects both the buyer and the seller throughout this process.

Based on ContractsCounsel’s marketplace data, the average cost of a project involving a real estate contract is $608.97.

What’s Included in a Real Estate Contract

Real estate contracts can be complicated and need to include various provisions to protect each party and ensure a smooth transition of ownership of property. Even the simplest real estate contracts should include these important clauses:

  1. Purchase Price. The cost of the property is usually the biggest concern for both the buyer and the seller and should be clearly noted.
  2. Financing Terms. Most real estate transactions involve the buyer taking out a mortgage to purchase the property. A buyers offer will be contingent upon obtaining financing. If the buyer is paying cash, this should be included in the contract because cash deals simplify the process.
  3. Seller Assist. It is common for real estate contracts to ask that the seller pays some or all the closing costs. The contract should specify how much of the closing costs the buyer is requesting whether it is a dollar amount or percentage of the purchase price.
  4. Contingencies. Contingency clauses are important in a real estate contract. These requirements must be met before the closing date and can include stipulations like:
    1. The buyer must sell their current home
    2. Repairing issues found in the home inspection
    3. Obtaining financing
  5. Home Inspection. Before a house can be sold, it needs to undergo a home inspection. The inspection will reveal any structural issues or damage that need to be repaired before the sale can go through.
  6. Fixtures and Appliances. Some real estate transactions will include appliances and fixtures with the house. This can include the refrigerator, dishwasher, stove, washing machine, or light fixtures. If the buyer and seller agree on what fixtures will be included in the home sale, it needs to be in writing.
  7. Closing Date. The closing date is the day that the deal will be finalized, and the real estate transaction is complete. Common closing date time frames are 30, 45, or 60 days. This gives buyers and sellers enough time to work through contingencies, secure financing, and move out.

Types of Real Estate Contracts

There are four main types of real estate contracts, purchase agreement contracts, contracts for deed, lease agreements, and power of attorney contracts.

  1. Purchase Agreement Contract. This is the most used real estate contract – a purchase and sale agreement. It lays out the terms and conditions surrounding the sale and purchase of a house between a buyer and seller. There are several types of purchase agreements that can be used for a real estate transaction but a lawyer can help you choose which contract is best for you.
  2. Real Estate Assignment Contract. Real estate assignment contracts are not typical home purchase agreements. These contracts are used for wholesale investment purchases. Assignment contracts require additional terms than a basic purchase agreement and this contract should be drafted by an experienced attorney.
  3. Lease Agreement. A lease agreement isn’t used for the sale of real estate, but for renting real estate. The contract is executed between a landlord (owner) and tenant (renter). The tenant agrees to pay a monthly rent and sometimes additional fees for utilities.
  4. Power of Attorney. When a party is unable to sign a contract (not in the area, for example) they can appoint another party to act as the power of attorney to sign the contract on their behalf. This isn’t very common in real estate transactions but there are circumstances in which a power of attorney is necessary.

Examples of Real Estate Contract Projects

Real Estate Contract Drafting Services

Real estate contracts can be complicated documents and it may be difficult to determine which type of contract you need for your transaction. If you plan to buy a home and need a real estate contract, it is recommended that you consult with a real estate attorney for drafting services.

A real estate attorney will know the laws that surround real estate transactions, draft a contract specific to your needs, and typically will even attend closing with you.

Real Estate Contract Review Services

It is customary for the buyer to provide the real estate contract, so the seller should be prepared to hire a real estate lawyer to review the contract on their behalf. Contracts generally favor the writer, so it is important for a buyer to have their own attorney review the contract to ensure it is fair and protects their interests.

An experienced contract lawyer can review the terms of the contract and make sure that the seller is protected. The lawyer will also explain the contract to the seller if they are confused about any terms.

Meet some lawyers on our platform

Albert M.

9 projects on CC
View Profile

Karen S.

1 project on CC
View Profile

Jose P.

1 project on CC
View Profile

Rebecca L.

2 projects on CC
View Profile

Real Estate Contract Drafting Cost

If you hire a lawyer to draft a real estate contract, it will come with costs. Your lawyer may charge a consultation fee, drafting fees, and for their time at the closing.

ContractsCounsel’s marketplace data shows real estate contract drafting costs to be $875 across all states.

Real Estate Contract Review Cost

As a seller, if you choose to hire your own attorney to review the real estate contract, you will be responsible for those legal fees.

ContractsCounsel’s marketplace data shows the average real estate contract review costs to be $575 across all states.

How Do Lawyers Charge for a Real Estate Contract?

Hourly Rates for Real Estate Contracts

Real estate lawyers typically bill clients using an hourly rate fee agreement. The attorney will keep track of their time working on the contract and any other tasks that they complete related to the real estate transaction. After closing, the lawyer will bill their client for the total hours spent working on their case.

ContractsCounsel’s marketplace data shows the average hourly rate for a real estate lawyer ranges from $250 - $350 per hour.

Flat Fee Rates for Real Estate Contracts

When a lawyer is hired for a specific task like reviewing a real estate contract, they may choose to bill their client using a flat fee rate. The lawyer will estimate the length the project will take to complete then quote an appropriate price. If the client agrees, they will pay the fee upfront and the lawyer will complete the project.

It is important that a client asks the attorney what is covered in the flat rate. Sometimes extra meetings, communications, or revisions are not included and could cost more.

ContractsCounsel’s marketplace data shows the average flat fee rate for a real estate contract is $608.97.

Get Help with a Real Estate Contract

Do you need help with a real estate contract project? If so, post a project in ContractsCounsel’s marketplace to receive flat fee bids from business lawyers to handle your project. All lawyers on the ContractsCounsel’s platform are vetted by our team to make sure you are provided with top tier service.

How ContractsCounsel Works
Hiring a lawyer on ContractsCounsel is easy, transparent and affordable.
1. Post a Free Project
Complete our 4-step process to provide info on what you need done.
2. Get Bids to Review
Receive flat-fee bids from lawyers in our marketplace to compare.
3. Start Your Project
Securely pay to start working with the lawyer you select.

Meet some of our Lawyers

Bruce B. on ContractsCounsel
View Bruce
5.0 (10)
Member Since:
January 12, 2022

Bruce B.

Managing Attorney
Free Consultation
Tampa, FL
8 Yrs Experience
Licensed in FL
University of South Carolina

Bruce Burk practice is in the area of small business, labor and employment, contracts, real estate and civil litigation. Bruce has litigated over 40 trials as well as many appeals. He prioritizes client communication and satisfaction as well as delivering high quality work product.

Cory B. on ContractsCounsel
View Cory
5.0 (1)
Member Since:
November 30, 2021

Cory B.

Free Consultation
Bellaire, OH
7 Yrs Experience
Licensed in OH
Duquesne University School of Law

Attorney Cory Barack specializes in business, real estate, probate, and energy law. He can help you with oil/gas leases, easements, property sales, drafting contracts and wills, setting up companies, and resolving disputes. He is licensed to practice law in Ohio and is located in Eastern Ohio.

Daehoon P. on ContractsCounsel
View Daehoon
4.7 (73)
Member Since:
November 27, 2021

Daehoon P.

Corporate Lawyer
Free Consultation
New York, NY
8 Yrs Experience
Licensed in NY
American University Washington College of Law

Advised startups and established corporations on a wide range of commercial and corporate matters, including VC funding, technology law, and M&A. Commercial and Corporate Matters • Advised companies on commercial and corporate matters and drafted corporate documents and commercial agreements—including but not limited to —Convertible Note, SAFE, Promissory Note, Terms and Conditions, SaaS Agreement, Employment Agreement, Contractor Agreement, Joint Venture Agreement, Stock Purchase Agreement, Asset Purchase Agreement, Shareholders Agreement, Partnership Agreement, Franchise Agreement, License Agreement, and Financing Agreement. • Drafted and revised internal regulations of joint venture companies (board of directors, employment, office organization, discretional duty, internal control, accounting, fund management, etc.) • Advised JVs on corporate structuring and other legal matters • Advised startups on VC funding Employment Matters • Drafted a wide range of employment agreements, including dental associate agreements, physician employment agreements, startup employment agreements, and executive employment agreements. • Advised clients on complex employment law matters and drafted employment agreements, dispute settlement agreements, and severance agreements. General Counsel • As outside general counsel, I advised startups on ICOs, securities law, business licenses, regulatory compliance, and other commercial and corporate matters. • Drafted or analyzed coin or token sale agreements for global ICOs. • Assisted clients with corporate formations, including filing incorporation documents and foreign corporation registrations, drafting operating and partnership agreements, and creating articles of incorporation and bylaws. Dispute Resolution • Conducted legal research, and document review, and drafted pleadings, motions, and other trial documents. • Advised the client on strategic approaches to discovery proceedings and settlement negotiation. • Advised clients on employment dispute settlements.

Jeff C. on ContractsCounsel
View Jeff
Member Since:
November 17, 2021

Jeff C.

Free Consultation
Denver, Colorado
37 Yrs Experience
Licensed in CO
Creighton University

Jeff Colerick has been practicing law for over 30 years and has devoted his professional career to providing clients with intelligent representation and personal care. His experience as a lawyer involving complex matters has resulted in a long history of success. Jeff has built a practice based on a deep understanding of real estate assets and corporate activities. He combines his industry knowledge with a practical and collaborative approach to problem solving. Jeff’s client relationships are strong because they are built on mutual respect. Jeff talks the language of real estate and understands that it is a vehicle to deliver your business strategy. Jeff provides practical, responsive, and strategic advice related to real estate acquisition, construction, leasing, and sale of a wide range of real property types, including office, retail, medical, industrial, industrial flex-space, mixed-use condominium, multifamily and hospitality. As leader of the Goodspeed Merrill real estate practice group, Jeff represents clients with commercial and residential transactions, purchases and sales, land acquisition and development, real estate investment and financing, financing liens and security interests, and commercial leasing and lease maintenance, including lease enforcement support and advice. The firm represents clients in matters concerning construction, lending, developers, contractors and subcontractors, cell site leasing, property and boundary disputes, common interest community law, and residential condominiums and planned communities.

Chia-Fen Y. on ContractsCounsel
View Chia-Fen
Member Since:
November 17, 2021

Chia-Fen Y.

Free Consultation
Elk Grove, CA
9 Yrs Experience
Licensed in CA
University of California, Davis

Attorney Yu represents clients in business and real estate transactions and has successfully handled more than 200 cases. She has experience in corporate law, including forming legal entities, employment law and workers’ compensation law matters pertaining to wage and hour violations, industrial injuries, misclassifications, and other employment-related torts and contracts. Attorney Yu works with employers to address employee relationship issues, develop effective policies and craft employment agreements. Attorney Yu regularly advises clients on the legal and business aspects of potential investments, ongoing business operations, debt collections, shareholders and partners disputes, business purchase agreements, risk assessment, intellectual property disputes, and potential contract disputes. She regularly handles real estate law matters such as landlord-tenant disputes, lease agreements, buy-sell disputes, title disputes, and construction disputes. She also has substantial experience settling debts, and she drafts, reviews and negotiates settlement agreements. Attorney Yu conducts extensive legal research and provides on-point legal advice to both corporate and individual clients.

Harrison K. on ContractsCounsel
View Harrison
Member Since:
November 17, 2021

Harrison K.

Attorney and Executive
Free Consultation
Los Angeles
28 Yrs Experience
Licensed in CA, MD
California Western School of Law

Harrison Kordestani is an executive with over twenty-five years experience in entertainment and media, energy, technologies, and start-ups. Mr. Kordestani has also developed a specialized legal and strategic consulting practice representing select entertainment, oil and gas, mortgage lending, and technology start-up clientele. He is also deeply passionate about new technologies and has also actively worked in building companies in the video-on-demand, wearable tech, information of things, demand prediction and app-marketing spaces. As an attorney, Mr. Kordestani's focus has been on transactional drafting and negotiation and providing ongoing legal counsel, corporate compliance, and contract interpretation to numerous private individuals as well as companies in varied fields.

Abraham W. on ContractsCounsel
View Abraham
Member Since:
November 19, 2021

Abraham W.

Free Consultation
Nashville, TN
4 Yrs Experience
Licensed in NY, TN
Harvard Law School

Abraham's practice focuses on counseling emerging group companies in the technology and other commercial agreements, and assisting equity financings (specifically venture capital).

Dave Y. on ContractsCounsel
View Dave
Member Since:
November 23, 2021

Dave Y.

Free Consultation
Colorado Springs
2 Yrs Experience
Licensed in CO
University of Denver

I am available for data privacy and cybersecurity projects. I am CIPP/US certified through the IAPP. I have also taken coursework focused on the GDPR through the London School of Economics. In my past career I was an intelligence officer. I am well acquainted with information security best practices and I have experience developing and implementing administrative controls for classified information and PII. I have worked extensively overseas and I am comfortable integrating with remote teams. Feel free to reach out any time if you have any additional questions on my areas of expertise or professional background.

Peter W. Y. on ContractsCounsel
View Peter W.
Member Since:
January 25, 2022

Peter W. Y.

Free Consultation
24 Yrs Experience
Licensed in CT, NY, PA
Haub School of Law at Pace University

Perceptive, solution-driven counselor and experienced attorney. Record of successful verdicts, settlements, negotiations, arbitrations, mediations, and deals. Effective claims management, litigation strategy, and risk consulting. Proven ability to oversee litigation teams, communicate to stakeholders, manage multiple projects effectively, and expand business relationships. Extensive experience handling legal issues in engineering and construction, environmental litigation, corporate and contractual, and insurance issues.

Cameron S. on ContractsCounsel
View Cameron
Member Since:
January 25, 2022

Cameron S.

Free Consultation
San Francisco
28 Yrs Experience
Licensed in CA
University of San Francisco

A commercial contracts lawyer with over 25 years of experience (both at large law firms and in-house as general counsel of a public company)

Find the best lawyer for your project

Browse Lawyers Now

Want to speak to someone?

Get in touch below and we will schedule a time to connect!

Request a call