Attorney Fees???
I just returned from a meeting with a RE attorney and I was very shocked at the price of his service. I am wanting him to draw up a buyer friendly contract for purchase with assignment clause and a contract for me to use between me and the investor I flip to. He wants's to charge $720 dollars to complete these for me. Does this sound expensive to you experienced guys??[ Edited by richyrich on Date 05/06/2004 ]
That may or may not be high. I would take several copies of various forms and create your own and have your attorney review them. Take the state forms from your attorney, the local realtor forms, and then a buyer oriented one like the one in the carelton sheets course. Thats what I did and although it works wonderfully I find it is more "accepted" to use the local board of realtor forms. Everyone always questions my wierd form and wants to run it by their attorney and is just another excuse for them not closing the deal with me.
Good luck!
I get all my forms from a book called 301 Legal Forms & Agreements. My attorney actually recommended the book.
Lori
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You also might want to look into pre-pail legal. THen draw up your contracts and just have them review them. It's only about $20 a www.month.They have been pretty fast about getting back to me on answers, about a day or same day.
From an attorney's point of view, $720 for 2 custom tailored documents is about $360 each. That's dirt cheap. I question the skill of the attorney in matters relating to real estate and/or the quality of his documents at this price.
$720 ??? Damn right that is HIGH. The previous posts have good recommendations. There is nothing complicated about the contract that would warrant spending that kind of money for an attorney. I am sure an attorney might disagree, but they would be WRONG.
I'm just begining this investing biusness myself and I have read somewhere that your should offer a 2%or3 % of the purchase price of the property that your buying that way you will have an attorney that not only works with you but will help you throught the processof legal matters,as a matter of fact that goes for accountants too.Don't ask me were I read it its been in my thoughts for awhile thought I share them.
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