What’s the cost for dragging a deal out in court?

[Mike Schorah]

For example, you put a property under contract. You assign the contract. Title comes back a complete mess.

Do you need to go to multiple court appearances? How much money will you have spent by the time it’s over?

What’s the time cost? What’s the money cost? I know every deal is different, but what’s the average amount of time and money? What’s the maximum monetary cost for, say, a deal that is drug out for a year in court?

I hear that most investors will just cancel the deal. But what if you’re starting out, it’s your first deal and deals are scarce (in this high inflationary environment)?

[Todd Drake]

Litigation as an exit strategy? I guess if the numbers work out...

Seriously though, stay out of court and litigation, especially in RE. I had a RE atty tell me she was just an expensive asset reallocation specialist.

There's only 1 guarantee in litigation: Regardless of the outcome, the attorneys will make money and over some beers with opposing counsel they'll high five each other about the beach house remodel they can do now!