Related Posts
Realization: I'm good at my job because I'm single
Going in-house full-time ✌🏻
Tips to improve on IR (GMAT/EA)?
Bowl Leader
Additional Posts in Real Estate - Law
Pro forma or proforma?
Coach
New to Fishbowl?
Download the Fishbowl app to
unlock all discussions on Fishbowl.
unlock all discussions on Fishbowl.
Ha! I think I did a deal recently with this same lawyer. We sent a contract and got a pdf letter back with their comments. I'd request a redline and if they can't handle that selectively incorporate their comments
Oh I’d much rather have comments than a redline, because I get to stay in control of the language. Easy to bake in compromises and protections yet still have it look good enough for the other side to sell it to their client as a valid response to their request and a “look what I got you!”
6 months sounds reasonable for what it’s worth. On the turn issue, just send to your client and have them tell the seller that their counsel needs to try again.
The response needs to go from your client to the counterparty. Your client shouldn’t be paying legal fees for the other side.
This is where you loop in the client to let them know you want to get changed made but not on their dime, and loop in the broker to tell the other side that this is not acceptable.
In solidarity, I once had opposing counsel negotiate the PSA by calling me and dictating his revisions as if I was his secretary. It was only a handful of comments, so I put up with it to get the deal done, but I was annoyed the whole time.
I’ve had this happen before. I wouldn’t add the comments to the document unless your client is made of money (if they’re buying office, they might be). When it happened to me, I just called the other side and talked through the comments that truly mattered.
Why not, as someone else suggested, schedule a call and go through each proposed change and why you’re rejecting it? Or not. Maybe I’m just old school, but the telephone is your friend. I don’t understand why some lawyers are so afraid of telephone calls.
Exactly. Letter is an invitation to negotiate over the phone. Be careful - the guy is probably a better negotiator than you!!
I’m surprised by the number of people here that want the client to tattle on opposing counsel.
Unfortunately there are attorneys out there who are pretty tech illiterate. I would vent about it with colleagues and then ask a younger associate to incorporate the acceptable changes. In my email back to OC I would advise that we can schedule a call to discuss any items that remain open. I would then let it go because life is too damn short.....
If NYC, I know who this is and he’s not going to do anything other than what he just did. Hence why he’s Seller’s counsel and didn’t produce the PSA. He’s going to tell you to kick rocks and your Client is going to have to decide how much they want the building. I ended up at his office making changes in a conference room with/for him. Unheard of in my practice.
Sorry; in 40 years of practice as a commercial RE lawyer, most of which as a partner in biglaw, I’ve NEVER gotten (or written) 42 pages of comments. That’s sick. I wonder if his client knows about it and will be expected to pay for it…?
What year was this guy admitted to practice? Better yet — what century?
Not sure how you handle something like this. I would most def call your client and tell him/her it will take you 25 hours or so to process all these comments. I never like to refuse to review OC’s work, but I’m even more opposed to not getting paid for MY work.
I once had a client insist that I turn a new draft for every round of his team’s comments (i.e., internal drafts) AND every round of OC’s comments. It amounted to 72 drafts. Then he told me I was crazy and refused to pay.
So I feel your pain but there’s no easy answer here.