Posted by Randy on August 01, 2003 at 11:08:59:
All I?m going to say on the subject is ?Expect the lawyer to kill your deal"?
They are professional deal killers! If the lawyer does not find fault in your deal why does ?His Client? need him? There are hundreds of posts on this site to prove it?.
Investor+Motivated Seller+Lawyer=??? - Posted by Dfree
Posted by Dfree on August 01, 2003 at 10:00:44:
Hey gang
I got my first appointment with a seller, through the L/Option Method. Seller wants to meet( and get this at his lawyer’s office) to further negotiate the terms and price.
This is my first deal and due to the fact that there’s going to be a lawyer present I want to make sure I ask all the right questions. I’m a pretty confident person and if the deal isnt’ right I’ll walk away, but I want to make sure I get all the information pertinent to the deal working right. As well as be prepared for any potential input/questions the lawyer could have that might throw me off track.
Any suggestions would be great, something along the lines of a checklist.
Re: Investor+Motivated Seller+Lawyer=??? - Posted by BigB
Posted by BigB on August 03, 2003 at 20:31:40:
Lawyers.
Augghhh.
It’s been my experience that a meeting with a lawyer that is not yours is just for intimidation to beat down your offer. They can meet with their lawyer without you or they are not truly motivated and are still holding out for the best deal.
Just my 1.5 cents worth.
Re: Investor+Motivated Seller+Lawyer=??? - Posted by Lyal
Posted by Lyal on August 02, 2003 at 08:43:58:
This seller is not motivated enough. Search the archives for “lawyer deal killers” and variations. Merle Wooley had a good antidote for this. He’d tell them (para phrasing from memory here) “Mr Seller, I understand your wanting to be cautious but we’ve spent a lot of time and money on these contracts and we’re convinced they’re fair to both of us. Show them to your attorney and get his input but understand, we won’t be making any changes to the offer. If your attorney wants to make changes, you can consider our offer withdrawn.”
In my opinion, meeting at the attorney’s office is a waste of your time. Give them your offer, used Merle’s line and move on. Be very nice when you do this, who knows, you may hear from them in a few months.
All the best, Lyal