Sellers Lawyer Steals Deal

[Matthew Wright]

Anyone ever have a great deal (verbal) going with a seller and have the seller consult their attorney about the upcoming transaction and have the attorney steal the deal? I did and it isnt a good feeling. Its what I would consider the deal of a lifetime. The property was off market and he responded to one of my mailers, the seller was extremely enthusiastic about selling me the property for pennies on the dollar, until his lawyer found out and started offering the property to other investors he knows. And of course the sellers going to listen to every word his lawyer says. I'm thinking the lawyer is going to be part of the deal on the purchase side.

[Mike Cumbie]

I do have to say it is not unethical by any means. The lawyer has a responsibility to their principal (The seller). If say it was worth 100K and you offered 20K and they took it to his lawyer he better tell him to get more. Refer him to an agent to see how close to retail he can get, and if he absolutely has to sell now "I'll give you 60K and I am stealing it from you." 

That is actually more ethical than letting someone else strip 40-80K from their client.

Just my 2 cents and good luck!