My wife and I just apparently lost out on a property and I am trying to understand what happened. It was a trust, listed by an attorney. The deceased had no children and No relatives in the area. It listed for $200k. We were the first people to look at the property and offered $236k cash, no contingency. After many days of waiting, we lost the property. As it turns out, it sold for 214.5k. I understand that sometimes people send a sappy letter to the seller to make a better case but I would think an attorney would be more resilient. Besides, isn’t the attorneys fiduciary responsibility to get the most for the property? What other reason could there be?
1 Answer
The attorney's responsibility is framed in terms of the interest of the client, which is not always money. If the trust has some social agenda, that rather than the dollar amount would be the attorney's responsibility. I would want my property to not be subdivided into smaller lots, and I would communicate that interest to my attorney, but that's just me. Since we don't know all of the facts (about you and the trust), all we can say is that "interest" and "duty" are not always about dollar amounts.
answered Jun 10, 2022 at 14:54
