A Deposition is an Imposition...BUT.....

Hi Sally and David, I had a transaction where I had to stop answering phone calls from the other side because I wanted to have everything in writing in case it involved legal action at some point. I wasn't sure if my documentation of calls, discussions were enough, and wanted to be sure what I wrote was exactly what was meant to be written/said.

Sally and David.

When we had our offices in Los Angeles, we always kept track of everything as did our team.  Our motto on disclosure was disclose or be deposed.  Excellent post, we hope everyone heeds your sage advice.  A

Hope for the best, prepare for the worst.  What is said is not always what is heard, what is written can be debated, but the interpretations are at least subject to a common understanding.  

E&O may cover the lawyers fees after the deductible, but the loss of working hours, sleep and second guessing can never be compensated for.  Good reminder. 

I had some sellers that came close to getting hauled into court by a buyer but luckily we were anle to resolve the issue ourselves. 

Sally and David- the best advice you said was to treat each transaction as if it would be going to court. You never know so the best thing you can do is document, document, and document!

I love the post. Congratulations on the feature. I will share it with others 

Sally K. & David L. Hanson you are so right about a time drain and the unnecessary stress that takes a toll on your current life.  The most tyring part of the deposition is to answer the question with a yes or a no period.  Many times we can't keep it simple because it isnt simple the way the questions are posed. Grateful for the advent of email that helps termendously in the line of communication.  Congrats on your featured post!

If only everyone followed this advice, Sally K. & David L. Hanson ... certainly in the professional realm, but as individuals as well.  FULL documentation and organization would cure so many headaches and ills.  Your advice serves us all well ...

Congrats on yet another great Feature!

Gene

Best advice I was given when starting in the real estate busines was to always consider my license first. Protect that at all costs. Now I have always been upright, honest and professional, so keeping my files clean, upto date and complete has never been a problem. When I got sued by a buyer, the attorney asked for my files, saw what I gave him and smiled like a cat before a bowl of cream. As the buyer was also an attorney, he enjoyed himself in court. I felt relieved but very sorry for her that she had obviously been badly advised by her agent who never showed up in support. She left the court in tears, and our attorney said he hoped she learnt a lesson.

My contracts include a mediation and arbitration clause to settle matters outside of court.

After a phone call with an angry, unreasonable person, I installed a free phone recording app on my smartphone and now record my phone calls. In Colorado, only one party needs to know the phone call is being recorded.

Colorado notaries are authorized to take a deposition, but it is not taught in notary training class. It is usually done by a trained court reporter. I bought a court reporter text book to learn the procedure.

Sally and David

I've been through a number of legal proceedings while in the corporate world - it's very time consuming - but not in this business, And hopfeully never will. You've certainly shared some valuable advice!

Jeff

This is one of those posts that should be Incorporated into very real estate licensing (and continuing ed)course.  Can't be said enough!

I was called into court twice, both times for the opposing side (the people that I didn't represent).  The sellers were suing the buyers that flaked out, not me or my company.  It was awful.  I turned over everything I was asked and my buyers were in the wrong.  Now I organize and prepare every file and once completed, I finish the documentation and keep it.  Thank you for sharing.

Words of Wisdom, Words of Warning.

Words well taken.

Thanks for sharing.

I feel your pain. It is the experience, that all of us would rather try to avoid, but like driving, no matter how good you are, you are not the only player there, and accidents happen 

Like I said with this post earlier, sometimes you just have to tell the truth and it doesn’t come off perfectlyin every time.

Dear Sally & David,

Excellent advice.

So true!  Approaching every transaction as if another set of eyes is viewing docs is a best practices line of defense, no pun intended!

Very true. Often times it has nothing to do with logic, reason, or common sense and, as such, it is very important to protect one's self through due diligence and religious documentation. Thank you for sharing. 

You must understand the process. The lawyers for both sides are most likely being paid by the hour, so they have an  incentive to prolong the  investigations and disclosures.

I have been in depositions where the first hour was just spend asking baseline, often repetitive questions that add nothing to the evidence trail. If you are the one being deposed you are working for free while the attorney is putting on a show for his client and generating billable hours. 

The attorney's job is to generate confusion where none actually exists. It is a skill that is developed and used to confound and confuse the depositionee. 

Document everything. You just never know what kinds of issues will arise.