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 ?
Thanks again.