Seller wants to use their own closing attorney???

Question

I am a wholesaler and was looking for some insight. My contract states that I choose the closing attorney and I have a seller who wishes to use their closing attorney. If I am to turn around and sell their property to an end buyer, is it possible to use their closing attorney for this? Or is it recommended to use my own closing attorney?

Maurice Ford · Answer

Thank you @Rashard Alomari, @Gerald Harris, @Jacob Rhein, and @Gregory Byrnes for your responses. You have cleared up my questions perfectly. @Rashard Alomari I would like to connect with you. I have a property in TN I am trying to get sold. Perhaps we can accomplish something great.

Gerald Harris · Answer

@Maurice Ford  You should be good to go. From here on out you use the term "me and my partner"  or "my partner and I"  to give sellers an indication you are teamed up with someone.  No worries.   If the deal is that attractive your cash buyer/investor will close it with the attorney.  No worries.  Just make sure you have trust.   If sellers wish to use their attorney that's cool.  Just make it clear you are working with a partner.   good luck

Jacob Rhein · Answer

@Maurice Ford, I guess I'm not familiar enough with the procedures you're describing. I'll try to educate myself on BP. Thanks for the feedback.

Maurice Ford · Answer

@Gerald Harris Ok this answers the question for me. I appreciate the response. So what would you recommend in the event that a seller is adamant on using their own attorney?

Maurice Ford · Answer

@Jacob Rhein I appreciate the response. The question I am getting at is that I am not the end buyer so once I purchase the property from the seller I will be turning around to sell it or I will do an assignment on the contract instead of a double closing. Could this deal still be done using the seller's closing attorney or is it wiser as a wholesaler to use my own closing attorney for the deal?

Jacob Rhein · Answer

It probably depends on what functions the lawyer is performing. If the lawyer is involved in negotiations or other aspects of the transaction, it's usually better for each party to bring their own lawyer because of the potential for conflicts of interest. On the other hand, if all that's being done is standard closing paperwork, you can probably use the same lawyer for two transactions involving the same property.

For more information, take a look at Rule 1.7 of the GA Rules of Professional Conduct.

Disclaimer: the information provided above does not create an attorney-client relationship with me and is not intended as legal advice. Please consult a lawyer for advice specific to your unique situation.