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Tax, SDIRAs & Cost Segregation

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David Mitro
  • Investor
  • Langhorne, PA
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How would you handle this attorney?

David Mitro
  • Investor
  • Langhorne, PA
Posted Apr 22 2015, 12:16

I contacted an attorney a little over a month ago to draw up a promissory note and a mortgage that I could use for a private money loan between my lender and I.

Initially, he requested a $400 retainer to begin work on the documents and for legal advice. I responded that I simply needed two documents and no legal advice so he lowered the amount to $375 for the note and mortgage.

I notified him of the address and loan amount to finalize the documents when I got a property under contract. He emailed me these documents in PDF form. I had to back out of the deal due to structural issues and told him that. I asked that he email me the docs in a way so that I can edit them and he replied that he would rather edit them since his name is attached to them.

Today, I get a e-mail from him saying the additional charges will be $30-$60 to edit and revise the documents. So $30-$60 to change the address and the loan amount.

How would you reply back? Do I own the documents? I feel that I paid $375 for two documents and they are now mine to do what I want with, including using them over and over again for additional properties.

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