Prepaid Legal Services in Fla. a 1st Step in FSBO Co.'s National Plan
A real estate listing service that focuses on for-sale-by-owner properties is now offering to home sellers what it says is a nationwide first—an opportunity to purchase prepaid legal services for their real estate deals at below-market prices.
While the legal services, which are being provided by Spira, Beadle & McGarrell, are now available only in Florida, “this is something we would want to roll out to the other 49 states,” says Eric Mangan, the director of media and consumer relations for ForSaleByOwner.com.
Home sellers are offered three options—attorney consultation, over the phone or by e-mail, for a total one-time fee of $169; attorney review of up to two real estate purchase contracts (assuming that one deal might fall through) for a total fee of $299; and a combination of both attorney consultation and contract review services for a total fee of $369.
Fair-market prices in Florida for these services are $300 per hour for legal advice and $400 to review a real estate purchase contract, Mangan tells ABAJournal.com in a telephone interview.
The company’s Florida prepaid legal services have been approved by the Pre-Paid Legal Committee of the Florida Bar, he says, and would have to be approved by comparable groups in other states, too, before they could be offered there.
A press release provides additional details about the new prepaid legal services.
