A Unique Background Of Trial Lawyer, Broker, Escrow Officer, Title Officer, Underwriter And MBA.
Orange County attorney Patrick J. D’Arcy is a real estate expert witness. Selection of the right real estate expert witness is crucial to your case. Mr. D’Arcy adds a wide dimension to your case: he has set up, ran and managed multi-million dollar real estate companies in various states for prominent publicly traded companies. He was licensed as an escrow officer in more than 30 states, and knows the escrow closing procedures. He was licensed in various states to issue title insurance, and knows how the title insurer handled your transaction. Further, he has a broker’s license, and has defended brokers against DRE discipline, advises brokers and real estate licensees on how to stay out of trouble and started his career in real estate in the 1960’s as a young boy helping his father in the title insurance business.
Mr. D’Arcy’s father was a legend in the title insurance business, and created the largest lot book company (a company that checks ownership and liens on real estate) in Los Angeles in the 1970’s. With his legendary father as a teacher, Mr. D’Arcy rapidly progressed in the field, starting out as title searcher, and eventually becoming a Sr. Underwriter of First American Title’s national closing company, and handled some of the company’s largest transactions, including a $229M sale of the Sherman Oaks Galleria in 1989, the $ 1 billion Unocal merger, a $500 million merger of over 100 hospitals, and many others. Mr. D’Arcy then pioneered the now standard RESPA compliant controlled business model in 1992. See an escrow controlled by a brokerage agency? Mr. D’Arcy made that legal. Mr. D’Arcy created a Texas-based title company that was projected to do $10 million in sales with a 33% pre-tax profit, and created more of them in states such as Ohio, Minnesota and California. Mr. D’Arcy’s business model was widely copied by other companies. He became president of E-Loan’s national closing company.
Besides a law degree from Georgetown University, Mr. D’Arcy obtained his B.S. degree from California State University, Northridge in Real Estate and Finance (1993), and an MBA (1996, with honors), with an emphasis in finance. Mr. D’Arcy’s B.S. degree qualified him for the California Broker’s examination, and he began studying broker and DRE regulations starting in 1988, and was considered so knowledgeable about California real estate law that title company lawyers called him for advice, and even allowed him (a non-lawyer) to represent the company in small litigation matters.
Don’t Hire The Wrong Expert!
Like any trial lawyer, when I seek to destroy an expert, I always ask how many times have they testified for a particular side. That’s nothing new. In my case, being retained as an expert comes down to this – I take very few cases. The lawyers looking to depose me will read up on this (Hello!). I had one that made a big deal about it, and made sure to plaster the deposition with it. Fine. Go ahead. I’ve been a lawyer for 15 years, and have only been retained a few times. One could conclude that I am not “for sale” and that maybe I am not so willing to declare myself an expert for an unsupportable opinion, and then get trashed in court, and in front of a judge I will appear before some day. My reputation matters to me. When I choose to be retained, it’s for a few reasons: 1) the subject area is interesting; 2) it will not conflict with my trial calendar; and 3) that I can deliver a solid and legitimate opinion.
At a trial in downtown Los Angeles, I cross-examined the expert chosen by the plaintiff. He had testified more than 500 times. Strike one. In only five minutes of cross-examination, I got him to admit he was wrong. He was the “big gun,” the raison de’etre. I defended the lender against the loan being set aside. This doctor claimed the borrower lacked “executive level functioning” and couldn’t understand the effects of signing loan documents. Naturally, the borrower wanted the loan wiped clean, and rather than return the funds, he spent the money on hookers, drugs, Porsche’s, Mercedes and Jaguars. Seems to me his executive level functioning was working pretty good. I led the doctor out into the deep waters, and then drowned him with his own logic. Case over.
In a large real estate case against a broker and its licensee (involving more than 20 experts), Mr. D’Arcy’s expert knowledge of escrow practices formed the opinion that the deal was structured to defraud the buyer into paying a minimum price so as to as close the transaction. Mr. D’Arcy obtained this opinion from the title and escrow documents. Mr. D’Arcy’s knowledge of real estate finance added yet another reason to cast blame on the defense. This testimony “floored” the defendants, who had litigated the case for nearly six years. While called to testify on the broker’s standard of care, this crucial testimony changed the entire dynamics of the case.
Further, many “experts” are not knowledgeable about the law. Mr. D’Arcy brought forth cases that showed that mere negligence claims against a broker do not need an expert. In selecting your expert, does that person mainly earn a living as an expert? I find that suspicious, and so do juries. If your expert isn’t believable (despite their touted credentials), you have a serious problem. Mr. D’Arcy isn’t a professional witness; expert witness fees are a small part of his overall income, as he doesn’t just sign up to take cases. You will appreciate Mr. D’Arcy’s work-ethic. In this recent case, there were thousands of pages of deposition transcripts to review. Mr. D’Arcy knew the facts of the case so well that he brought forth facts either forgotten or never uncovered by the other side.
In June 2021, Mr. D’Arcy was called to testify in a real estate dispute regarding a shopping center and a national fast-food establishment. On the day Mr. D’Arcy was scheduled to testify, the client obtained a dismissal of the case.
If you need an expert, call Mr. D’Arcy. The call is free, and his hourly rates are reasonable. He’ll give you a candid assessment of your case. Call (949) 988-7640.
AREAS OF EXPERTISE
Real estate documents, duties of disclosure, breaches of fiduciary duties, DRE licensed salespersons and broker non-compliance, agency relationships, standards of practice, California’s “Real Estate Law” governing real estate licensees, and title insurance and escrow procedures. Mr. D’Arcy regularly defends lending companies against predatory lending practices, TIL and Reg Z violations.
EDUCATION/BACKGROUND:
Bachelor’s Degree in Business Administration with Options in Real Estate (3.8 gpa) and Finance (3.6 gpa), California State University, Northridge (1993)
Master of Business Administration, California State University, Northridge (1996) Beta Gamma Sigma (3.88 gpa, unofficial class rank, 6 of 62).
Juris Doctor, Georgetown University Law Center (2006)
Licensed California Real Estate Broker, DRE License #01856828