Posted by Frank on January 12, 2001 at 11:34:25:
I am in the New York City area and can use an attorney who does a little more than paper shuffling. Just wondering what other’s experience are. Here’s the situation:
I concluded a Sales contract. Unfortunately the Buyers attorney made numerous changes which we did not agree with. After much back and forth for a month - agreement was reached. My attorney sounded exhausted. Said he’s stuck quoting me a fixed price and doing all this extra work.
Did the research on 1031 exchange. Gave him the phone number of the exchange agent to call. After he told me he was pressed for time - I told him I’d select the agent and have them send him the packet. All he had to do was fill out the forms. He said fine.
Looked at some commercial properties to purchase. Told him I wanted to tie one up with a purchase option and if he can propose the wording for one. He told me he’s not a dealmaker and I would have to frame the deal and he’ll put it in writing. Deal making costs $200.00 an hour according to him.
This guy’s also a CPA and he tells me its the busy season of the year.
I know looking through this board there’s courses and books that I can probably get the wording for for such an option. However, I rather spend my time and this point finding a property than to play lawyer.
My experience seems to be that I have to do the work - and they love to review it. Tried to get two attorneys to write a partnership agreement some years back - both my partner and I was represented by an attorney. Both wanted to review it, but neither wanted to write it.
I finally wrote one in legalese using a sample partnership agreement as a template. At the meeting, both attorneys were relieved they didn’t have to do anything, and suggested that I should become an attorney.
Now, I’m the one exhausted talking about these guys. Just curious - what are these guys suppose to do anyway ?