Thursday, June 14, 2007

Counsel your clients

Don't be this attorney that we had a closing with the other day:

The transaction itself was pure vanilla...we had a well-healed buyer purchasing a condominium in Northbrook. So Seller and his lawyer first schedule closing on a Monday before my client had gotten mortgage approval so we spend one day scheduling/cancelling that transaction. Then, solely because Seller/lawyer had scheduled Seller's purchase closing at 130pm on Wednesday they HAVE TO close the sale at 11am Wednesday. Of course I'd told Seller's lawyer I was in court in downtown Chicago until 11am and I'd be really late...and I was! And I had the Buyer's funds. So a couple totally uncessarily stressful days with phone calls, scheduling, ect.

Counsel clients about setting closings too close to one another...don't do it. Don't schedule movers, ect. I expect "stress" when I'm in domestic relations court with bickering spouses; I don't need it in non-descript ho-hum real estate closings due to lawyers not thinking ahead!

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