Legal Opinion for Foreign Residential Loans with Prompt Approval
Applicant: Mr. Thomas
Case Type: Issuance of legal opinions for foreign residential loans
Case duration: two weeks
–Mr. Thomas provided a large number of documents to be reviewed, not the least of which were French-language files.
– Mr. Thomas was super busy and slow to respond.
• After filing the legal opinion for Mr. Thomas, the bank was informed that the wife was a co-borrower and a separate legal opinion had to be issued for her.
After years of struggling in France, Mr. Thomas moved his family to Silicon Valley after rising to become a director of a world-renowned technology company. For years, Mr. and Mrs. Thomas had dreamed of owning a home in the romantic city of Paris, and in 2020, the time finally came. Mr. Thomas searched the Internet for a law firm that could provide this service, but to no avail.
A few months ago, Mr. Thomas’s friend, Mr. Dupont, had a similar experience when he requested a legal opinion from a French bank to purchase a property in France. Mr. Dupont was fortunate to have such a legal opinion issued by Tsang & Associates, PLC, which led to the successful purchase of a property in France.
Mr. Thomas contacted us to discuss his situation and to learn more about the successful case of his friend, Mr. Dupont. After learning more about his friend Dupont’s successful case, he immediately decided to hire our firm to issue the legal opinion requested by the French bank.
KEYS TO SUCCESS
Mr. Thomas and Mr. Dupont were in almost identical situations and applied for mortgages from the same French bank. In this way, based on our experience working with Mr. Dupont, we had a good understanding of the specific scope of the bank’s requirements andDocumentsKnow it by heart.We compiled a customized list of documents for Mr. Thomas, reviewed all documents, and drafted a legal opinion within a week based on our analysis of the relevant documents.However, unlike Mr. Dupont, Mr. Thomas requested that we submit this legal opinion to the Bank of France for pre-approval.
After submitting the legal opinion to the French bank for pre-approval, the bank immediately accepted our opinion and then asked us to issue a separate legal opinion on Mr. Thomas’ wife. It turned out that Mrs. Thomas was a co-borrower and co-signatory, and Mr. Thomas had forgotten to tell us this important point! This immediately doubled our workload, and with the deadline looming, we immediately sent a customized list of documents to Mrs. Thomas to collect the documents to be reviewed.
After reviewing and sorting out all the documents related to Mr. and Mrs. Thomas, we submitted the legal opinion and the supporting documents signed by Mr. and Mrs. Thomas to the French bank.
We thought we would have one legal opinion for Mr. Thomas’ financial situation within two weeks, but ended up with a doozy – a separate legal opinion for Mrs. Thomas. Nevertheless, we were able to complete both legal opinions on time and the French bank was very satisfied with the documents we submitted.
The Thomas’s were soon able to secure a loan, and soon after, they were able to purchase the home they wanted in France with great success; they expressed their sincere gratitude to their friend, Mr. Dupont, for introducing them to Tsang & Associates, PLC. to them. Today, word of mouth is spreading about the quality of our services to Mr. and Mrs. Thomas.
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