Real Estate Lawyers- Love or Hate Them?
It’s my turn to ask this real estate question and I would like to know when too much is just over the top and their picky, picky ways damage a sale of a home. Be careful who you choose in RI real estate to close your mortgage loan.
Protecting a clients interests’ is always where I am at(or hope I’m at!), working with the transaction lawyers as well as the other agent. It just seems that the moon is in a ‘wrong’ phase or the stars are not aligned properly from what I see going on around me – just asking too much.
Contingencies are all the real estate rage and there have been blog posts about ‘domino’ sales where having a copy of that ‘other’ purchase and sales agreement is a must. That is agreed.
However, I have had a few attorneys recently that go so far that they have created issues on the lending side. Overzealous in their concern and requirements…i.e. septic installations prior to closing and holding payment dollars way after install, want more than 2 months to closing date (not short sales) because the buyer needs more time to pack, etc. Actually one client brought flowers to my office after the closing because she couldn’t understand how I maintained my composure with her attorney!
What would you consider valid contingencies in a purchase & sales contract that would be added?
How do you deal, in your realm, with unrealistic attorney demands and yet keep the peace?
[By The Way, I have dealt with one, David Dolbashian in RI & MA, who does not fall into this category of problematic attorneys. ]
If the attorney can bring value, legal muscle and know how to the contingencies he is insisting on fine but if not don’t complicate a transaction further.
Real estate lawyers – love them or hate them?
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