Hiring an Attorney

5 Replies

I am very new at this so I had a consultation with a Real Estate Attorney about what contract to use for wholesale strategy, he will make me a master contract and will show me how to use it for $750. I am in the DFW area of Texas. Does this sounds like a good price to pay for the contract?

Welcome to BP. I do not have much dealings with wholesailing but I would say that $750 is outrageous unless you consider him showing you the contract and walking you through every word valuable to you. Personally I would not pay that amount as there are plenty of contracts you can find for free on the internet and massage them to fit your needs. IMHO.

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@Humberto Quiroz That fee is pretty reasonable, frankly. There's no doubt there are some forms out there, but if his time saves you even one deal (probably something like 1/4 or 1/8 of a deal) then it's worth it. If you're sure you know what you're doing, maybe it's not worth it, but the fee is pretty reasonable for the work product and the advice.

Originally posted by @Maceo D. :
Welcome to BP. I do not have much dealings with wholesailing but I would say that $750 is outrageous unless you consider him showing you the contract and walking you through every word valuable to you. Personally I would not pay that amount as there are plenty of contracts you can find for free on the internet and massage them to fit your needs. IMHO.

Could have sworn I answered this yesterday. No! Use the TREC purchase agreement, learn to use it. That guy is charging you $725 too much.

Go to another attorney. See if you can work with a Realtor and find listings for them!

That Shark Tank on TV is child's play compared to the sharks in the real world, especially in RE, everywhere you go people will want to get into you pocket!

You need to learn RE basics first before you hit the streets, you'll learn what should be in a contract. That just saved you $700, send me half of it....LOL! :)

@ Eric, thanks for the info, I just wanted to know if it was a reasonable price.

@Bill, I will look up on the TREC purchase agreement, would you mind helping me to with any questions regarding the form?