Legal Zoom Contract Help

3 Replies

Does anyone have experience with Legal Zoom on getting legal advice or creating legal documents?  I recently engaged my local attorney who specializes in construction to develop a residential purchase agreement and commercial purchase agreement with some contingencies (mainly on locating a 3rd party buyer to wholesale the properties).  I also got them to develop an assignment of contract form.  These three forms cost me $1,700.  I was a bit sticker shocked.  I'd like to see people's thoughts on pre-paid legal services.

I now need to get legal advice on the Frank-Dodd regulations in regards to selling Rent-to-Own low income properties.  I also need a Rent-to-Own contract developed.  Your feedback is appreciated!

Thanks,

Josh

You get what you pay for when it comes to legal services. The problem with template contracts that you may find on websites like Legal Zoom is that they were not developed with your particular case in mind, and may leave large portions of your business estate unprotected in certain ways. I would highly recommend against going that route.

Does LegalZoom provide state or municipal level specificity in their contracts? That's what you're paying your local attorney for. 

Keep in mind, once you've paid your attorney for that form, it's yours. Unless you're doing a lot of one-off deals or those with special circumstances, that's a one-time fee and you can reuse the form. If you do have lots of one-off deals, subsequent changes may be lower cost, since the attorney can make minor revisions to the existing document. 

And $1700 may be a drop in the bucket of the fees, fines, and the like you might pay if you don't get legal advice.

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Thanks @Matthew Kreitzer and @Steve Maule .  I looked into Legal Zoom and they provide unlimited 30 minute sessions on new topics.  You can engage an attorney who specializes in the area of your inquiry and in that practices in your state.  If you need specific forms developed, you can get the attorney to develop the forms you need on an agreed upon upfront set fee.  They do also have templates already created, but you can get real legal review as well.  Up to 2 pages per document included with the monthly subscription.  

I was also thinking this might be beneficial when I run into specific problem tenants just to get a quick discussion in with an attorney.  For example, I recently had a leak in the wall of a mobile home that I have rented.  Upon investigating, I immediately put a crew to work on the project.  The tenant consistently complains about the work not being complete fast enough, he's insinuating that his wife and children are getting sick (read between the lines...i.e. from the mold that was immediately removed on discovery), and on and on.  So it seems that the service could be of use in those instances and also getting specific legal advice on different topics like setting up trusts to hold real estate, 1031 exchanges and the like.