Skip to content
Two investors reviewing resources on a laptop

Get industry-leading resources — for free

Unlock resources for every investing strategy and stage with a free account.

By continuing, you agree to BiggerPockets LLC's Terms of Use and Privacy Policy

Followed Discussions Followed Categories Followed People Followed Locations
Legal & Legislation
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

User Stats

65
Posts
6
Votes
Ararat Vardanyan
  • Real Estate Agent
6
Votes |
65
Posts

Lawyers stealing deals

Ararat Vardanyan
  • Real Estate Agent
Posted

Hi Biggerpockets family. i have a question.

We got two deals under contract last week and it went to attorney review and both attorneys canceled the contract, but I already agreed the price and the terms with the sellers. One of the sellers confessed that his attorney referred another buyer and basically they stole our deal.

My question is how can we protect our contracts from the attorneys? Any experience and recommendations?

Most Popular Reply

User Stats

17,744
Posts
30,712
Votes
Russell Brazil
  • Real Estate Agent
  • Washington, D.C.
30,712
Votes |
17,744
Posts
Russell Brazil
  • Real Estate Agent
  • Washington, D.C.
ModeratorReplied
Quote from @Eliott Elias:

How does the attorney cancel the contract? If you and the buyer Are in a legally binding contract, I would dig deeper into that.


 In much of the northeastern states, contracts are contingent on the review of each parties attorney.

And if a clients attorney knows they can sell the property for more money to someone else, they have a fiduciary duty to tell that client that. 

business profile image
District Invest Group
5.0 stars
46 Reviews

Loading replies...