When clients of my firm received an unsolicited offer from a prominent land broker for undeveloped land that they had earlier purchased, I advised them to consult with Lance Davidson for advice on how to respond. His research revealed market comparables for their land at about $7,000 per acre, substantially less than the $11,000 they were offered. Interestingly, when the buyer learned of Lance’s representation of the clients, the price immediately escalated to $17,000/acre. Yet Lance conducted further inquiries and research about the land, the buyer’s motivations and the buyer’s statements. When Lance emerged from an all-afternoon meeting with the buyer’s agents, he had raised the price up to $37,500 per acre, based primarily on information he had gleaned from the buyer’s representatives during negotiations. In addition, Lance converted deposits credited against the purchase price to option payments, so that the clients, if all options were exercised by the buyer, would receive just under $40,000/acre, far superior to the $11,000 they initially wanted to accept. Lance’s efforts made a significant difference for our clients created extraordinary profits for our clients. His diligence, resourcefulness and knowledgeable approach was very much appreciated. I’d highly recommend Lance as an attorney and trusted advisor.
