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Jason Grinnell Quoted in Law360 Article on Avoiding Litigation When Selling Real Estate Portfolios

Advises Sellers to Follow Boy Scout Dictum: “Be Prepared"

April 9, 2013

Jason Grinnell, a Los Angeles-based senior counsel in Dykema’s Real Estate practice, was quoted in a recent article in Law360, “How to Avoid Litigation When Selling Real Estate Loan Portfolios.” In the article, Grinnell—whose practice focuses on real estate finance, particularly all matters of commercial real estate loan financing—observes that, in any planned sale of a real estate loan portfolio, it’s incumbent upon the seller to know every detail of every loan document within the portfolio and to be prepared to be fully transparent about each to prospective buyers.

“As cliché as it sounds,” notes Grinnell, “it really is the old Boy Scout adage of ‘be prepared’.” This traces to the increasing use of digital drop boxes or cloud-based storage rooms in which buyers not only have access to every document, but can—and do—subject those to intense scrutiny prior to the sale.

Grinnell observes that while full disclosure might dissuade some prospective buyers from the sale, it’s a practice that more often than not significantly diminishes the risk of eventual litigation.

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