Selecting a Bankruptcy Lawyer

One of the many road bumps in life – filing for bankruptcy. The process and aftermath of filing for bankruptcy can take a huge toll on anybody who is involved. Needless to say, it is strenuous on the individuals involved, both emotionally, and financially. For those considering filing for bankruptcy, or already in the process, it is vital to have a good bankruptcy lawyer. Why? Having a good bankruptcy lawyer will improve your case, your financial standing, and in turn, your (or your families) well being.

It is not very hard to find the right bankruptcy lawyer. You need to start off by making a list of possible laywers for your case. Ask around – friends, family, coworkers, and so on. Chances are, you know at least one person that has filed for bankruptcy. You may hear some good stories about certain lawyers – and in that case, you can consider working with that lawyer. On the other hand, you may hear some negative stories – and in that case, you can stay away from that lawyer.

There are several resources available online that can help you look for attorneys where you live, and also narrowing down with more specific queries. Many bankruptcy lawyers even have their own websites with their history, areas of expertise, and so on.

When you feel you have a decent number of possible lawyers, you need to begin narrowing down. Many bankruptcy lawyers offer free consultations. You can contact the lawyers and ask them any questions you have. Having a good feeling about the lawyer you are going with is important. When you talk to them, it is important to take note of how exactly you feel when talking to this lawyer. Confident? Not so confident? It is important to pick a bankruptcy lawyer which you feel confident with. Furthermore, you need to find out how much this lawyer will charge for your specific case. Cost is an important factor for many.

Once you have talked with the lawyers on the phone, it is time for a face to face consultation. This is a good time to see how you feel about this lawyer, most important your confidence level. Have a good list of questions that you will ask the lawyer, and touch on all of them during the conversation. It is important to see how experienced the lawyer is, what their winning percentage is, and what their plan would be for your case.

Role of a Real Estate Lawyer Know Their Role When Buying or Selling a Home

Role of a Real Estate lawyer

First your lawyer will send you a letter outlining what documentation he or she may need from you. Since you will likely be paying at least $1300 plus for legal services, I think it’s important that you know what your lawyer will be doing for you! Below is some detailed information on the role of a real estate lawyer and on what you need to do when working with your lawyer and securing a mortgage. Don’t wait to higher a lawyer just before you taking position of your new purchase, make sure you interview them way before your closing date.

Your Real Estate lawyer should advise you what expenses you’re likely to incur with respect to the closing procedures, including:

Land Transfer Tax
legal fees
property tax

If you’ve bought a new home from a builder, the Real Estate lawyer can give you an educated estimate as to how much you should budget for “hidden charges” such as:

Ontario New Home Warranty Enrolment Fee
Hydro and Water meter installation charges
Fencing charges
Grading Deposit charges
many others

If all the conditions in the Agreement have been met and the Offer is firm, the lawyer proceeds to investigate the title to the property. Initials searches include:

utility searches
property tax searches
building, zoning and planning searches
registered title searches

Letters are sent by your lawyer:

to all municipal or regional utility departments to confirm that there are no arrears or outstanding charges
to ensure there are no conditional sales contracts, easements or unregistered agreements, liens
to discover other encumbrances affecting the property or equipment being left by the Seller

Easements are a big issue and cases are always being written up in the newspapers and real estate journals, about buyers who didn’t realize they weren’t allowed to put up fencing or create a parking space because the property survey they were working from didn’t actually show the City’s rights to access the property. Your lawyer’s job is to make sure all this is disclosed to you. Your lawyer will also advise the utility departments of your name and the scheduled closing date, and request that final meter readings be done on the closing date so the final bills can be sent to the Seller.

A Tax Certificate is requested by your solicitor to verify the amount of the current year’s taxes and to ask about any arrears and outstanding charges for taxes. Your lawyer will also write to the Building and Zoning Department to get the full particulars of zoning by-laws and restrictions and permitted uses (so you’ll know if you’re allowed to operate a business from your home or build a huge deck, for example). It’s important that you send your lawyer a copy of the survey for the property as soon as possible – if the Seller has a survey, I’ll get it for you if it’s not already included in the offer documents. If no survey exists, tell your lawyer so he/she can advise how your interests can be protected through Title Insurance.

A Search of Title to the property is begun in the Land Registry Office to make sure the Seller is the true owner of the property, has the right to sell you the property, and that the property is not subject to any encumbrances, encroachments, easements, liens, agreements or mortgages that were not disclosed in the Agreement or Purchase and Sale. You may have heard of fraud cases where people’s homes were sold out from under them by con artists who had no title to the land! This is where your lawyer really earns his fees. This search has to be completed prior to the Requisition Date (title search date) shown on your Agreement of Purchase and Sale.

Other important functions of your lawyer include:

Carry out a search of Executions in the appropriate Sheriff’s Office to ensure that there are no executions against the prior owners of the property that would affect your title.

Prepare and deliver a letter to the Seller’s lawyer requesting that any items revealed in the initial searches be dealt with on or before closing.

Review the contents of the Mortgage Commitment letter your bank will prepare when you arrange your financing, and consult with you about the results of signing it.

Advise you of any closing-day costs related to mortgage financing when your financial institution provides you with a final Mortgage Commitment Letter.

If your lawyer is also acting on behalf of the financial institution (it often happens), he/she will prepare all necessary documentation for the mortgage and submit this package to the financial institution for approval prior to closing:

- Certify title of the property to the financial institution on closing.

- Advise you about any government programs designed to assist home buyers that would apply to you, including Land Transfer Tax Rebate programs, Ontario Home Ownership Savings Plans, RRSP plans, and CMHC 5% Down Payment information.

- Let your insurance broker know the name, address, phone number and fax number of both your lawyer and of the financial institution providing your mortgage. Your lawyer needs a letter confirming that insurance coverage is in place effective on closing – this is super important because the bank will not advance the $ to close your purchase until they know that you have property insurance.

Lawsuit Financing Companies

Attorneys, law firms, lawyers, beneficiaries or clients usually form lawsuit-financing companies. Lawsuit financing companies can also provide appeal finance, firm finance, custom finance or estate finance.

Many lawyers and attorneys create lawsuit financing companies based on their experience and the types of cases they encounter the most. Attorneys and lawyers with expertise in personal injury lawsuits or patent lawsuits help by providing cash advances and support in their fields.

Lawsuit financing companies provide many financing options. With a significant monthly fee, a few lawsuit financing companies may help to settle the case faster. Though a large variety of options are available, the plaintiff has to discuss with the attorney which option is best suited to him.

The lawsuit financing company and the plaintiff can make an agreement of the amount of share the lawsuit financers would obtain after the settlement or the verdict is known. This is called “flat fee”. Apart from the flat fees, the plaintiff has to pay a minimum fee every month, called “recurring fees”, to the lawsuit financing company. This recurring fee can be as low as 2.9% in the case of a few lawsuit financing companies, or could be as high as 15% with other companies.

It is the financing company’s decision as to how much to pay as the cash advance. Lawsuit financing companies pay from $1000 to about a million dollars depending on the case.

Every lawsuit financing company would have a team of lawyers to assess the strength of the case. The key is to avoid funding frivolous complaints. Thus the financing companies will scrutinize the complaint and decide the chances of success of the case.

Lawsuit financing companies do not term their cash advances as loans but as investments. The applicant has to repay after the verdict. Usually the monetary settlement that is obtained after the settlement by the court is larger than the company’s advance. The lawsuit financing company should be paid the principal and the predetermined share of the monetary verdict.

Many lawsuit financing companies can be approached through the Internet. Companies like, and are available on the Internet. Websites like these are flooded with information and instructions regarding lawsuit financing.

Seller Financing Contract

The key to a good seller financing contract is the terms, and the clauses that you use. If you do not use these correctly it can be as useless as not having them at all. I personally use my own contract writer, it is a wizard format, you simply check yes or no to the questions it asks you.

Once it determines for it self what kind of a deal you are working on. It creates a contract to fit. This assures me that the clauses and terms are placed in the correct area of the contracts. A program like this will write pretty much any contract you will need for buying property.

Now, if you are looking to pay a lawyer to write your seller financing contract, here is a few things you are in for. High cost which could be in the thousands. Time, you will waste so much valuable time that could better be used dealing on real-estate.

If you need a seller financing contract, you can expect it to take anywhere form one week, to a few months depending on the lawyer. So if at all possible, eliminate the amount of time you spend with a lawyer. By using a contract writer, you can write your contract in minutes, and it is completely custom written.

OK, so we know now, that if you have a lawyer write your own contract, it could waste time, which could cost you the entire deal all together. It will cost you more to have the lawyer write it, then to just have the lawyer revise an already written seller financing contract.

Law Practice Finance

How do you finance a growing practice? It is impossible to have a successful practice without good cases and managing good cases to a successful conclusion requires money for working capital. So, how does a growing practice secure the working capital it needs?

Historically, growing practices in need of working capital have had limited financing alternatives. A law practice’s largest and most valuable asset, their case inventory, has been of little value for financial transactions. Most firms find that banks will only lend them rather small amounts, if they will lend at all. Banks simply do not view potential fees from cases as adequate collateral for a loan. They are simply not set up to evaluate this type of collateral. This makes it all but impossible for the smaller firm to finance large cases.

Previously, the only alternative has been to give up a large portion of the fee to a financially stronger co-counsel willing to finance the case.

Attorney Financing With a Non-Lawyer Third Party
This paradigm has changed with the introduction of asset-based lending to the legal profession. The development of highly specialized litigation finance companies knowledgeable in case and attorney evaluation now make loans available to many practices for which no financing has previously been available. Moreover, their loan-to-value ratios are double or triple those of traditional financial institutions.

Non-traditional lenders are starting to provide loans that more properly reflect the value of a practice’s contingent assets – case inventory. While financial condition of the parties always matters in a capital transaction, even more important are the attorneys’ skill, track record and case inventory.

Ethics Issues

Financial transactions with attorneys are shaped by ethics issues. The intrinsic problem is that the non-lawyer entity has an incentive to attempt to “maximize its earnings to the detriment of the representation of clients.” The attorney must maintain control and independent professional judgment: the non-lawyer entity must have no power or authority to direct or control the activities of the lawyer (RPC Rule 1.7(a); RPC Rule 5.4(c)). (It goes without saying that lawyers may not split legal fees with a non-lawyer entity. RPC Rule 5.4(a))

Various Rules of Professional Conduct require that:

(1) there must no interference with the lawyer’s independence or professional judgment or with the client-lawyer relationship, and

(2) information relating to representation of a client is protected as required by RPC Rule 1.6.

(3) revealing to a third party any information acquired during the professional relationship with a client (“Confidential Material”) unless the client gives informed consent.

If these conditions are met, a financial arrangement with a non-lawyer entity is permissible if:

o Repayment is not tied to the results obtained by the lawyer

o The rate of interest charged is absolute and not contingent on the outcome of the litigation.

Since there is no way to achieve this with a non-recourse transaction, the attorney must be responsible for the loan.

Beware of Sham Transactions

There are private lenders that have attempted to avoid the restrictions imposed by the Rules of Professional Conduct by using a law firm as a conduit for its transactions. If the law firm is offering nothing but financing, this transaction is likely to be considered a sham and required to comply with all of the appropriate rules.

Factoring Fees on Settled Cases

It is important to point out that there is a great distinction between a contingent fee on an unresolved case and an account receivable on a settled case. Since the issues have been resolved, the latter presents no conflict (assuming the transaction does not run afoul of 2) above); the receivable can be sold, factored or otherwise financed like any other receivable. Fees can be factored on a recourse or non-recourse basis at very reasonable costs.

The Structure of Today’s Market

Every credit market has a hierarchy and this one is no different. Rates vary from about 5% for the most creditworthy to 60% for the least.

Since case expenses including working capital represent only a small fraction of the value of a case, even the highest rate loans, which are primarily asset based, represent very favorable economics for the growing firm. Consider the following alternatives for a firm that needs $50,000 in financing in order to handle a $500,000 case with a contingency fee of 33% (potential fee of $165,000):

(1) Co-counsel Financing: 50% of the fee equals $82,500;

(2) Working Capital Loan at 60% equals $30,000 per annum. Depending on the case duration (break-even is 33 months)

Prime Borrowers

The largest and most creditworthy firms have always been able to get bank financing at reasonable terms; these have always been credit transactions rather than asset financing. Generally, the bank will take a blanket security interest on all assets of the firm, including case inventory and will usually require the personal guarantees of the principals, as well.

These prime borrowers can use their financial strength to borrow and then turn around and invest the capital in cases brought to them by smaller firms unable to get the financing themselves. The cost of these transactions can be huge since they are based on the results of the case rather than on the amount that is financed.

Non-Prime Borrowers

Just below these prime borrowers is a group of firms that are creditworthy enough to secure a bank line but not at the best terms. The amount of the line is usually insufficient and the rate is well above prime.

These firms can usually obtain significant funds from a non-bank lender at rate of 16% – %20%. A security interest and personal guarantees will be required.

All Others

The vast majority of firms have been limited to the amount of capital they can borrow on their own personal credit.

Footnote 1

RPC Rule 1.7(a), a conflict of interest exists if the representation of one or more of a lawyer’s clients is materially limited by the lawyer’s responsibilities to a third party or by a personal interest of the lawyer. This conflict can be waived by the client. However, regardless whether there is no conflict, or there is a conflict that is waived by the client, the lawyer must still insure that (1) there is no interference with the lawyer’s independence or professional judgment or with the client-lawyer relationship, and (2) that information relating to representation of a client is protected as required by RPC Rule 1.6.

RPC Rule 5.4(a) prohibits a lawyer from sharing legal fees with a non-lawyer entity. RPC Rule 5.4(c) prohibits a lawyer from entering into certain arrangements with a third party that would give the third party the power to direct or regulate the lawyer’s professional judgment in rendering legal services to a client.

RPC Rule 1.6(a) generally prohibits a lawyer from revealing to a third party any information acquired during the professional relationship with a client (“Confidential Material”) unless the client gives informed consent.

Financing Legal Fees (Factoring)

While most small and medium sizes law firms want to grow and prosper, few have the necessary working capital to handle increased case loads or extended settlement payment. Factoring, which is the purchase and sale of accounts receivable (in this case, legal fees) at a discount at or near the time of creation (settlement), can help solve this all too familiar cash flow problem.

Financial transactions with attorneys are shaped by ethics issues. The intrinsic problem is that the non-lawyer entity has an incentive to attempt to “maximize its earnings to the detriment of the representation of clients.” However, once a case has settled, these issues are not in play any longer and the ethics issues go away.
Legal fees on settled cases are just like any other account receivable and can be sold, assigned, factored or otherwise financed.

Specialty finance companies like CapTran ( will purchase legal fees on settled cases. Most companies will deal in all fifty states.

o Minimum Transactions amounts are as low as $5,000

o Individual fees can be aggregated to meet minimum

o Maximum Transactions amounts are generally in the millions as most factoring companies are very well capitalized

o A portion of a fee may be sold

o Generally, there are no application fees

o The fees must have no known motions or actions challenging the settlement

How it works

Once a case has settled and all documents have been properly executed by both plaintiff and defendant, the fee receivable is purchased for a small discount, usually between 2% and 12% depending on the payor and amount. The main difference in rates is the factor’s estimation of the time it will take to collect the fee.

Step 1 – Master Fee Purchase Agreement

A Master Fee Purchase Agreement is executed specifying the terms of the under which fees will be purchased, including minimum and maximum amounts, advance rates, fees and rebates.
Before you begin factoring, please fax us the following documents:

o If your firm is a Proprietorship:

o Fictitious Business Name Statement or other document you filed with your local governmental agency allowing you to conduct business under your company name;

o If your firm is a Professional Corporation or Limited Liability Company (LLC):

o the document stamped by your state governmental agency confirming your company’s registration and allowing you to conduct business under your company name. This is often known as a Charter or Articles;

o A copy of the declarations page of your malpractice insurance policy.

Step 2 – Submit Fee Purchase

Submission of fee for purchase using factor’s submission process/forms. (CapTran has an online e-from to make the process of submitting fees for purchase as easy as possible.) The documentation is simple and closing is usually within 24-48 hours.


o Copy of client fee agreement

o Copy of settlement or judgment

o Must be signed by defendant

o must be signed by insurance company or other payor

o Letter of instruction from attorney to payor directing payment to factor’s bank or lockbox.

Step 3 – Acceptance

Purchase of fees is subject to the factor’s acceptance,(acceptance occurs when you receive your advance), at their sole and absolute discretion at a the discount from face value agreed to in the Master Fee Purchase Agreement, which is usually wire transferred directly into your checking account.
The discount will include the factor’s fee as well as any margin or “haircut” form the face value, which the factor has required. Usually, the factoring of legal fees requires no haircut if the payor is of unquestioned credit worthiness.

The assignment and letter of instructions from you is sent to the payor of the fee (usually an insurance company).

Step 4 – Payment

The payor sends their checks to the factor, which amounts are credited to your account, as received.

If the payor pays in a timely fashion (less than 90 days), you will also receive a Rebate when enough money has been collected to close any particular transaction. The Rebate is calculated by a predetermined formula that adjusts the original discount in Step 3. Here’s an example assuming a 12.5% factoring fee and a rebate of 4.8% for payment within 90 days:

Amount of Fee $10,000

Less Advance Disocunt (12.5%) $1,250

Net Advanced to Attorney $8,750

Rebate if payment within 90 days (4.8%) $480

Net retained by attorney if paid within 90 days = $9,230

Net retained by attorney if paid after 90 days = $8,750

Every factor has its own rules, preferences and idiosyncrasies. However, the welcome mat in clearly out for accomplished small to medium sized law firms.

Personal Bankruptcy Lawyer – Be Honest About Your Finances

Before you begin your quest to find a suitable personal bankruptcy lawyer it is first of all necessary that you get to understand exactly what personal bankruptcy is and what the ramifications of it are. It is only after you have become well educated about what personal bankruptcy is can you expect to identify the right lawyer. Also, you must remember not to act in haste and hire a lawyer thinking that this is all that it takes to solve all your financial woes.

State Regulations

Filing for personal bankruptcy actually only tells the world at large that you have done everything possible to recover from a financially disastrous situation and have so far failed in being able to recover your financial health. It also means that you are so mired in debt that all hope of sustaining your finances has been lost. What’s more, the state in which you are currently a resident of will have its own personal bankruptcy regulations that will affect your case. This in turn means that you will need to ensure that you hire a personal bankruptcy lawyer from this state.

An ideal lawyer is someone that is able to handle you and your financial troubles in an easy and friendly manner. They should be trustworthy and have proven competence to handle your personal bankruptcy and it is also important that you are able to communicate effectively with one another. For your part you must never withhold any information related to your finances.

By withholding important information from your personal bankruptcy lawyer you will give rise to new problems that will put you into even deeper trouble than you already are in. In fact, a lawyer will only be of use to you if you let them know the complete facts related to your personal bankruptcy and your future too will depend on complete transparency and honesty in providing every available fact.

Before hiring a personal bankruptcy lawyer you should of course have a few probable candidates in mind who will need to be personally interviewed by you and who in turn must demonstrate their ability to solve your problems to your entire satisfaction. It is therefore a good idea for you to look at only those candidates that have extensive prior experience in handling personal bankruptcy cases and who come with good references.

In a similar vein when filing for corporate bankruptcy you will do well to look for a suitable corporate bankruptcy lawyer that will show you how to navigate through the complicated corporate bankruptcy laws.

At the time of meeting with your personal bankruptcy lawyer makes sure to have a list of all of your creditors on hand including those who have given you personal loans. Only by providing them with complete facts and information can you expect to stand the best chance of being recommended the best course of action and this in turn ensures getting maximum advantage.

Lawyering Up When Buying a New Home

When buying a new home, at what point do you need a lawyer? Should a lawyer be involved in the entire negotiation process, or do you only need one by the time the deal is done? Most Canadian home buyers opt for the latter option, contacting a lawyer only after the offer has been made and accepted, because of the impression that it will save them money. On the contrary, hiring a lawyer only when the deal is done (or worse, not hiring a lawyer at all!) is mistake that usually ends up costing home buyers a huge amount of time and also money.

After all, a real estate lawyer does more than just review the purchase agreement, conduct a title search, register the deed, and transfer the funds. While all these are clearly important functions, there are other equally important tasks that a property lawyer can serve that will make it all the more imperative for you to hire one early one.

For one, an province-specific real estate lawyer can review all the paperwork well ahead of time and ensure all laws and tax issues in your province are met. Financially speaking, most home sellers face a few unpleasant surprises that sneak upon at the end of the home purchasing process or even after they’ve settled into their new houses. Surprises such as additional charges and structural defects, and HST at a whopping 13 percent in Ontario, charged on newly constructed residences only -problems that can be prevented early on by a lawyer.

Of course, enlisting a lawyer from the very beginning cannot only save you money in certain areas, they can also pinpoint rebates and province specific tax rates, such as first-time home buyers’ credit and HST rebates. Another reason to involve a lawyer early on is to be afforded full protection in terms of financing.

Lawyers who understand provincial and federal law, rules and regulations will help you make the correct decisions in terms of purchasing, financing and signing on the dotted line. For example, he or she can help the home buyer not get stuck in a deal where there’s no way to opt out of financing, and navigate “legal language”. There are always going to be certain terms that the home buyer might not understand, and can only be correctly interpreted by a lawyer. For instance, if the contract uses the word “encroachment” instead of “easement”, the home buyer might not even realize that there’s an existing condition that prevents him from exercising full property rights over the subject property. Then payment of outstanding real estate taxes is also a matter of concern, as most sellers pass on the burden to the home buyers with the latter not even realizing it.

To put it simply, a lawyer plays a pivotal role in the process of buying a home. If you do away with one, the consequences will most likely be dire, and you will be forced to comply with conditions in the purchasing agreement that weren’t all too clear to you in the first place

For more information about seeking legal advice for purchasing a home [] or real estate law [] in Canada, visit a trusted and reliable real estate lawyer.

The Top Lawyers in Canada

The top lawyers in Canada typically work in the law firms which have offices across the border in the US. Three of these firms are Stikeman Elliot L.L.P., Torys L.L.P. and Blake, Cassels and Graydon L.L.P. While there are many lawyers in the US who are specialists in Canadian law, the same can not be said of Canadian lawyers on the whole.

Top Canadian lawyers work in the fields of finance, business and energy rather than family law. And as the environment and preservation of the wildernesses of Canada is important, many top lawyers are environmental lawyers. Among the best of these is Dianne Saxe who in the Best Lawyers edition of 2010 was listed in the category Best Lawyers in Canada in the specialty of Environmental Law.

Other top lawyers deal with First Nations of Canada and the best of Canada’s lawyers figure prominently in Lexpert, which is the Canadian Legal Lexpert Directory which gives details of Canada’s leading lights in the legal field. Anyone wanting to find the best lawyers in Canada would do well to peruse this directory.

Lawyers who work for the law firm of Stikeman Elliot figure quite highly in this directory several being considered experts in the field of Energy, with Erik Richer La Flèche recognized in Euromoney’s “Guide to the World’s Leading Project Finance Lawyers” and named as a “leading lawyer” in the project finance sector of the IFLR “Guide to the World’s Leading Financial Law Firms.” He also figures in the International Who’s Who of Public Procurement Lawyers, so he is amongst the best of lawyers in Canada.

Another of Stikeman Elliot’s leading lights is John W. Leopold who is a senior partner of the firm. He is one of the “Thirty Most Influential Private Equity Attorneys” in the world, according to the November 2006 edition of the Private Equity International magazine and the only Canadian lawyer listed in that top thirty.

Many family lawyers across Canada employ female lawyers as a plus point, as do other law firms in many other countries, as it seems that females are thought to be more understanding of family issues than men, or at least it seems that the general public would rather have a female family lawyer than a male one. There are many top female lawyers in Canada who specialize in family law, and looking through the directory mentioned above will help you to find any top lawyer in Canada if you have need of one.

When seeking the right lawyer for your WRAP property purchase, you need to know that the lawyer you choose has expertise in conveyancing. It is also preferable if he or she has handled ‘Vendor Finance’ contracts as well, and is comfortable working with them as not all conveyancers are. Without doubt, you are going to find a solicitor very easily and find several law firms in your local area. Simply look online or through your local directory listings for those near you. Visit a few solicitors first to discuss with them what sort of business you will want them to handle. When you know that they are comfortable in handling a Wrap property deal and you are happy with their attitude, then you’ve likely found the right one.

Buying and selling Wrap Property is clearly a legal process so it’s important that you get the best advice from the start. When a Wrap contract is signed, both parties are committed to a range of legal rights and responsibilities and you need to be clear on what they are and why they need to be in place. You may want to have the option of changing some of the terms and conditions of the contract and your lawyer must know what is possible, what isn’t and what is in the best interests of you.

When you have found the right solicitor, you will need to give their details to your intended Wrappee. There is absolutely no problem with the Wrappee using the same legal firm that you are using but you will likely find that they prefer to find one of their own just to make sure that there is no conflict of interest and they will be more confident that they are getting the best deal possible.

Because Wrappers focus on the capability of the Wrappee to make regular payments, rather than because they fill a certain check box criteria that the banks insist upon, there has to be an acceptance that both the Wrapper and Wrappee are carrying some extra risk. Of course, the Wrapper most certainly seeks to balance the risk he or she takes with the most attractive positive cashflow return from the property they purchase, and they would have taken that into consideration during the risk mitigation process. But the Wrapper is providing a service which not only matches but often betters what the financial institutions can provide because it needs to be tailor made to meet the circumstances of both the Wrapper and Wrappee.

For these reasons, and because of the more unusual circumstances of purchasing the positive cash flow property, it is of the utmost importance that the right Vendor Finance lawyer is found for both parties.