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Manny G

Lawyer wants to see paperwork ??

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So I have a guy who sounded like he was on board. Said to call him this week to get paperwork signed. I call and he says that he'd like to have his lawyer review the paperwork and asked if I could email it to him.

 

How would you guys approach this?

1) say sure and send it over?

2) ask him for a time to review it with him and his lawyer?

3) something else?

 

I was just going to send it over but I just know alot of times a lawyer is a deal killer.

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No doubt lawyers can be deal killers. Especially if they aren't familiar with a lease purchase, what we do and how we do it. And don't be surprised by how many attorneys are not up to speed on this stuff. The result? They play if safe and tell their client this is a dangerous deal and steer the homeowner away. Unfortunately there isn't much you can do about this. If you refuse to send the paperwork for review the homeowner will assume you are up to no good and the deal dies. The approach I take is to first suggest to the homeowner that you meet and go over the paperwork together, stressing that it is very pro-homeowner and that he might not need to pay his attorney for something as clear and easy to understand as a lease option.

If he insists, offer to meet with his attorney to review the agreements. Sending them to the attorney would be your next best option. But you want to remain in control of the deal, Manny, and anytime you hand over your agreements without being present you've lost that control. There are exceptions to this, of course, and it's a judgment call you'll have to make sometimes as to whether or not a homeowner is trustworthy, or just looking for the necessary agreements to do the deal himself.

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