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Strategies & Market Trends : The Residential Real Estate Crash Index -- Ignore unavailable to you. Want to Upgrade?

To: Jim Fleming who wrote (104130)	2/8/2008 8:17:08 PM
From: MulhollandDrive	Read Replies (1) \| Respond to of 306849

This guy spent some time reading the stuff and then pulled a red crayon out of his desk draw and Xed out four or five pages of legalese and then wrote a sentence or two of plain English making the deal absolutely non-recourse. He then looked at me and smiled and said "I went to law school too, if they want the loans this is the documentation I will sign." To my amazement and education the deal went through without a problem. eeeeyup.... i didn't go to law school, but i got burned on a contract that i signed in my mid twenties....so i went to the law school of hard knocks.....what learned from that was, never sign a contract without reviewing it with my attorney... now they call attorneys 'deal killers' for a reason....but it's a good reason jim, the bottom line is you have to be willing to walk away, if you can do that, it exposes who really needs the deal and who doesn't...and frankly i've learned to take the murphy's law approach to contracts....cya has to work both ways, and if you refuse to cover your own ass, who's fault is that?