my purchase contract difficulty continues - Posted by bill
Posted by bill on September 18, 2003 at 17:46:00:
I met with my attorney today and we were under different impressions of why we were meeting. I thought we would write a purchase contract that I could use myself with sellers. He thought I had found a seller and was bringing them in to fill one out there. Well then I got discouraged.
He said he wont desingn a blank contract and give it to me because he has been sued in the past for that… He said to find a seller and sign nothing. Agree to terms and bring them in to fill out a purchase agreement. I guess I will have to do this for every deal.
He said dont start off with buying subject 2 because its to complicated. “start off buying traditionaly” he told me. Sorry not enough money for that.
I also asked if my power of attny and authorization to release loan info should be signed when I meet the seller and he said no, just get copys of their bank statements, note, etc… Of course I agreed to all this because he is the attorney and must know what hes talking about right?
Lastly I asked about buying with a land contract. He said you must record the land contract and the bank will always call the loan due because they have pepople that go to the courthouse and see the land contract when looking for tax information. Well there goes another tool to use.
So I left (discouraged) saying that I would find a possible deal and bring the seller to his office for everything. No other attorneys around here have even heard of these terms so I cant go anywhere else so I am stuck with him…
Do you think I will fair ok doing this his way? Thanks Bill