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5 Important Legal Issues in Wholesaling Real Estate Contracts
Five Key Legal Issues in Wholesaling Wholesaling is becoming a more and more popular way that investors do deals. Wholesaling, like any real estate investment, has positives and negatives aspects. As a lawyer who has handled a fair amount of wholesale deals, I made a list of five legal issues that every investor should be aware of before getting involved in a wholesale transaction. Make Sure the Contract is Assignable Not every contract is assignable, which is the mechanism that wholesalers use to sell their interest in the contract for a fee. Every county in Connecticut has a slightly different purchase and sale agreement, and many have also been tinkered by real estate agents and attorneys. Moreover, I see more investors using forms they have downloaded from various websites. If you are going to wholesale a contract, you need to make sure the contract is clear that you, as the Buyer, have the right to assign the contract to anyone in your sole discretion. If there is no such clause, arguably you may have to perform and you cannot sell the contract. Make sure the contact has a clear provision that you have the right to assign your interest. LLC…
I have had a number of clients who are both homeowners and contractors ask me to review a contract for home improvements (addition, pool, deck, etc.) and request that I review the contract to make sure it contains all of the necessary information. They are surprised to learn that their contract is woefully deficient and in fact, may not be enforceable unless certain provisions are added. It is particularly important as a contractor to make sure your contract is enforceable by a court of law if you get stiffed for the final bill.
Key Due Diligence Items in Purchasing Commercial Real Estate
Buying commercial real estate can be a good investment opportunity. Commercial properties typically offer more financial reward than residential investments, but commercial investments are often more complicated and come with more risks. That is why it is particularly important to exercise great care when conducting your due diligence.
Essential Legal Issues in Buying Multi-Families
Investing in multi-family property is a great way to build wealth. Multi-families are also great first investments for new investors looking to make a smaller purchase to get their feet wet before buying something bigger. However, when buying a multi-family property there are a number of legal issues that every real estate investor should be aware of that do not arise when purchasing a condominium or single-family home. I have outlined three important issues to consider when purchasing a multi-family property.
My Neighbor Claims Part of My Land – What Do I Do?
My Neighbor Claims Part of My Land, Which I Have Owned For Decades, Belongs to Him. After Surveying the Land, He is Actually Right. What Can I Do? You May Have a Claim to Keep That Land Under The Legal Doctrine of Adverse Possession.
The Town Has Denied My Building Permit to Develop My Undersized Lot – Is The Town Right?
The Town Has Denied My Building Permit and Will Not Let Me Develop My Undersized Lot. Are they Right? Actually, the Town May Be Wrong.

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