Neutral Party Attorney

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by a searcher from University of Nebraska - Omaha
in Peachtree City, GA, USA

1yr ago

Neutral Party Attorney

We're currently under LOI with a company based in Florida. The broker representing the deal has stated that because they are a Florida company we would be able to use a "Neutral Party Attorney" who would create purchase agreements and such on behalf of us and the seller.

Thoughts on this?

Anyone have any first hand experience with such an arrangement?

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reply by a professional 1yr ago
from University of Michigan in Detroit, MI, USA

Hi ^redacted‌, this isn't Florida specific. Lawyers in many jurisdictions can act as neutrals to help parties resolve certain matters. But I've never seen it in a business transaction. Proceed with caution. Remember that the lawyer is not representing you and will not be looking out for your interests. Happy to discuss further. If I can be of any help, feel free to reach out here or directly at redacted