It my neck of the woods the 3% would be high. Why don't you just use a real estate agent, who does this type of work every day?

Hello Chauncey,

It does sound like this attorney is charging too much (unless he has a realtor license).
If you signed a retainer with the attorney, you can try to negotiate a cancellation and some funds refund, but most likely the attorney will be able to write up the costs...(like taking your phone calls etc.)
If you are successful in this negotiaton, please get the cancellation in writing, and get the attorney's agreement not to pursue you for the balance in writing. also

Some estate costs are tax deductible, so the seller might consider this.
If the seller's decision not to use an agent is final, then you have to either find another attorney (who'd do the contract preparation and closing for a smaller amount than 3% of purchase price - and you can get quotes from several attorneys, just to see what's the going rate in your area), or work with a realtor to help you buy this house.

Irina Karan
Beachfront Realty, Inc.
IrinaKaran@gmail.com

Chauncey the problem began when you allowed the seller to dictate the terms a bit too much.
Emily below is right this property is most likely questionable in price. In todays market especially
if you are looking in Cheltenham the seller should be eager to keep you and be willing to cooperate
with a realtor.

Hello Chauncey

I re\cently met a Newtown attorneys that did a very nice job for $500 . He handled the sales agreement and showed up at settlement. Your attoney has funding sources? Are you in need of hard money? He knows appraisers......if you are going conventional or FHA pricing you cannot select your own appraiser. AS for ptopertyy inspectors.....if you make a request here you can get all the phone numbers you need.

That being said, you have already started the process. What do you want to do now?

Regards,
Alan Openshaw
Cornerstone Lending Inc
Southampton Pa 18966
215 953 0800
cell 267 992 7276
VOTED BEST IN BUCKS 2010
NMLS ID 143960

Chauncey,
It sounds a little pricey. Give me a call or email me.
Emily Landis Torres
RE/MAX Central
Direct: 267-640-2327
Emily@emilyshomeinfo.com

Chauncey, you can try other attorneys and see if one of them will handle for flat fee equal to less than 3%. Good luck to you.