Methods of Calculating Attorney’s Fees
- Buying an apartment in Israel
- The Lawyer in real estate transactions
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The first method, and in my opinion the best, is pay per hour worked.
This is the standard method in the commercial field.
The second method is a percentage payment or a predetermined amount based on success.
This is a standard method in tort claims.
A third method by which a flat rate is given in a pre-defined matter.
This method is standard in ordinary financial claims or issues that it is impossible to know how they will develop in advance.
In my opinion, this method is the worst because it leads to the most disappointing results.
The fourth method is payment as a percentage of the transaction, and this is the standard method in real estate transactions.
From my experience as a lawyer who is assisted by lawyers and pays them, I see that the best consideration is actually according to the payment method per hour worked.
Sometimes it is worth refining this method in the form of a bonus or limiting the amount of work invested in the portfolio, but hourly pay is the method that embodies the highest return.