All Forum Posts by: Justin Abdilla

@Layle Gregory They could work in multiple states if they’re licensed in multiple states. Sadly, I’m not licensed anywhere else right now, but I appreciate the request. I wish I could help you out!

@Justin Abdilla I might have misread the earlier point before I read more comments on the post. I think I concur more that this is in professional negligence. I’ve done these as consumer fraud before, but that’s only against seller. If you’re attacking the title co then it’s definitely professional negligence.

What a doozie.

@John Farady EXCELLENT comment.

I see a statute issue too. Your claim is actually consumer fraud or misrepresentation, not breach. Typically that’s a 3 year claim.

I second the idea to ask about an attorney’s hourly rate before you sit down. The task you put forward here is one that I think might require 8-10 hours of research. These questions are really outside the ability of someone to post a guesstimate on. I think, to be honest, this is the kind of case that makes it to appeals hearings or even the state Supreme Court. It’s a really strange issue that I bet has not been fully explored in the law.

@Prab C. We’re a lawyer state here in Illinois, so the realtors job is more of a sales task than a transactional liaison. I would say fully half my transactions don’t have a real estate agent on both sides. I doubt you’ll notice any diminution in service if you’ve got a good attorney. I would say you should expect to pay a premium to the attorney because we know we have to do everything.

Let me know if I can help further

@Theresa Harris I just wanted to second this post for what my firm has advocated in the past. I’ve definitely told clients to let people go and find a new tenant. It seems easier to find a happy tenant than to satisfy an idiosyncratic one. Good luck

@Irma Vazquez If you have no agents you need an attorney who knows how to handle the financing and the escrow. That goes double for commercial, where getting clear title and due diligence on the property is a more extensive process.

I've done a few sales by owner for commercial but I think we've done two buys. Most FSBO commercial scare me off because of how hard it is to ascertain tax liability or lien status against the building.

That’s probably the biggest issue with this - doing proper due diligence on the property for the water bills, sanitation bills and possible buildings court actions. Tax liability for business sales can also be tricky at the state level since Illinois has specific transfer tax requirements. Getting the deed registered right now is also a PITA but it won’t be so bad come next week.

I’m watching the thread of you have any specific questions!

@Layle Gregory we almost always get paid at closing! I recommend contacting the local bar association for a recommendation or picking someone rated between 7.5-9.0 on Avvo. I find people who have the perfect 10 are usually paying for marketing.

Your scenario is kind of oblique to the situation at hand. If the property is in an LLC or any other type of corporate vehicle, or if it is managed, I would advise whoever is managing the property to get a debt collector's license in Illinois or at least include the language that "This business may be deemed to be a debt collector under Illinois law." If it is a private landlord owning and renting the property, I don't think I would advise them to do that, but I still think savvy tenant attorneys are going to use the provision I've cited. I say this because they're already raising it in my cases, not out of just pure speculation.

A 5-day notice to pay the lease or terminate is absolutely threatening suit.  If you send a 5-day notice and then don't file your suit for 3 months, it's often good enough to sustain an FDCPA violation.  I've personally won one of these in Will County.  If that notice is sent improperly, that is nearly always deemed an FDCPA violation in Illinois.  It's both a misstatement of amounts due and threatening suit.

I appreciate the academic discussion.  This probably will become a Youtube video on my channel, so you really challenged me to make better content.  

You need either an attorney or an agent.  You don't need a loan officer.  If you happen to know RESPA like the back of your hand, and have prepared title insurance documents in the past, and have a real estate broker's license, maybe you won't need one.  Otherwise, just the documents alone are going to open you up to so much liability it's worth hiring someone. 

You, as the agent, are open to a claim for fraud for anything your boyfriend misses.  I'm an attorney in Illinois, and this is a classic conflict of interest.  There's a controlled, pre-existing relationship (likely of a sexual character - but I don't know you and I'm not assuming) between the agent selling the property and the inspector who assesses its quality.  Both of you should act in the best interest of the client, but due to your relationship are going to be presumed to be acting in the best interests of each other.  You're in a position where you're much more liable for breach of fiduciary duty, consumer fraud or professional liability claims if either of you messes up on a deal. 

Personally, if I knew about your relationship with the inspector, I wouldn't hire him if you were my agent.  Since a reasonably shrewd investor might feel that way, there is also a question if you need to disclose this during your recommendations process.  It's kind of a mess all around, and you're eventually going to get sued.

With that said, the liability of suits might be less than the value of your relationship professionally, so maybe it works for you to continue your relationship.  If you lose one suit every 2 years for $30,000; but the relationship is worth $10,000 per year, then it's probably worth it to do this.  Personally, though, I would absolutely disclose in writing that I'm in a romantic relationship with someone to whom I refer business.