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Updated almost 9 years ago,

User Stats

28
Posts
0
Votes
Adam Glassman
  • Real Estate Investor
  • New York City, NY
0
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28
Posts

​There is a first time 4 everything: Who has had this experience?

Adam Glassman
  • Real Estate Investor
  • New York City, NY
Posted

Comments, Shares, and Likes are always welcome.......

I would say that 85% of our deals get signed on our contracts with the seller. But this one particular property in Queens, New York the seller says "I want my new attorney to draw up the contracts". I, of course said "No problem". I never met her so I couldn't explain to her in person how great our contracts are and we have 30 different ways to get out of the deal and get our Deposit back if it doesnt work out!!! She wants to close quick-AS-IS, etc, etc, etc. Again I said "No problem-Send them over"

This all happend last Wednseday-Every hour on the hour up until yesterday she was asking if we received contracts. I built a nice rapport with her so was being a little quirky - "Donna-If you signed our contracts we could have been closed already. I would consider using a new attorney which i would be more than happy to recommend". I almost had her there but we got contracts almost 1 week later. Her attorney said we would have them latest last Friday. It is now Thursday and finally got the contracts---and as expected contracts that are absurd.

Now the good part and I quote:
1. 20% Down Payment-What??????
and this is the best one.....
2. If you make changes to the contract or add a ryder the buyer will be charged $350 for me to read it. What?????

In conclusion I would say this attorney is a deal killer for any buyers including me. We marked this contract up regardless so I have an inspection period, etc. With that said, I am curious to hear if anyone has come across this and would love for you guys to share your absurd attorney contract experiences.....

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