Investor · Willow Spring, NC · Member since 2009 · 5k+ posts · 3k+ votes
10y
In NC, we look for attorneys that specialize in areas consistent with our business goals. For example, our attorney provides 'closings' for us for trustee sales. Yes, we could just use the trustee for providing the Trustee's Deed, but we learned over a decade ago that there is value in getting a paralegal to do pre-bid lien and title opinion and other verification of documents in the special proceedings file. All part of the deal for us. They also coordinate with the trustees, which for an investor turns out to be really hard. Trustees will talk to another attorney, especially one who they know (our attorney worked at one of the largest trustee firms around before starting his own practice. ) Case in point... once we won a bid and for a few reasons wanted to delay getting the trustee's deed as long as possible. We funded escrow right away... it wasn't a funding issue. Long story I won't go into. But without representation, there was no way we could do that on our own.
Anyway. There are RE closing 'mills' that don't fit our business. All FNMA Owner Occupied. Most of these attorneys have never done SDIRA closings. I know. I've been there andseen it first hand. I'll stick with our attorney who understands how the custodians work and are educated and experienced with Power of Sale (NCGS 45), private lending, NC SAFE Act, etc.