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Updated over 11 years ago on . Most recent reply
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My "Snake Attorney" Story
So, I'm a newbie wholesaler, and I closed on my first deal a couple of weeks ago. My buyer and seller agreed that a lease options would best suit both of there needs, so my buyer suggested to use a specific attorney in my town. I've been working this seller for the last 3 months. He has other rentals to sell, and he wanted to sell me this first home, then decide if he wanted to sell his other rentals to me. "Okay, fair enough" I said.
The day of closing came, and the attorney walk in with an air of expected attorney know it all arrogance, that I paid no mind to, because I'd be $12K richer in 30 minutes time. However, my seller has a big mouth, an older gentleman. He starts talking passively about his other rentals. Mr attorney started drooling over this, and starts making a long a blatant pitch for these properties, and even tries to set an appointment before realizing that I've probably spoke with Mr. Seller about these things. Mr. attorney then retracts and proceeds with the close. Mr. Attorney apologized after the close to me and buyer with, "I hope I didn't over step my boundaries." Really?!?!! We responded politely; I have no interest in making enemies on my first deal. However, this attorney have all of the seller's info; there's nothing stopping him from ringing up my lead and taking him. By the buyer's own admittance, I know I shouldn't trust the attorney.
In the future, I know I need to use an attorney that won't try and take my leads from me, but my local mentor told me that this was "the best in San Antonio."
What measures can I take to ensure this guy doesn't take any of my business away?
Most Popular Reply
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@Max Garcia Jr , I have a few suggestions, first you have to swallow your dislike of this guy and think professionally. Next hire him to draft an offer for these properties. The second you hire him to do anything on acquisition, even if the offer is turned down or even if it is not made, he can no longer ethicly take any action to buy one of these properties, or even disclose them to another person because it would be a conflict with a client. As long as he only represented the Seller there is no legal conflict he cannot overcome with a disclosure to buy from Seller. Once the lawyer becomes your attorney he must get your permission to take any action or do any disclosure.
@John Jackson , the attorney cannot disclose any specifics about a deal without his clients permission. However if he knows a client who wants to sell he can disclose that. Any specific information an attorney learns about a client that is private cannot be disclosed without that clients consent.