A few years ago, with the issues of wrongful foreclosures it's been recognized that automatically filing a deed held that had been kept on the side under terms of an agreement violated the buyer's rights to due process under state foreclosure laws.

Maybe someone will solve that with video conferences.The best way to get started in RE is to take the time to learn the basics, generally what is required for a real estate agent, that can be had by certified teachers, under state approved curriculum, you don't need to be an agent but you should know the same basics.

An owner of any secured property has the right to redeem or obtain equity above the security interest granted from the sale or disposal of secured property, as to laws of equity, not having anything to do with the right of a borrower to "redeem" the collateral by paying off the debt secured under state laws.Priority of distributions of sale proceeds is determined by state law.

If your father for example makes you a loan he would be exempt from most federal lending laws as a family transaction, otherwise lending money can fall under state and federal laws.

Many times when a property is offered for sale, the seller will understate their expenses to attempt to make the deal look better than it is.

We are humble people and, if anything, are overly understated when discussing our properties.That said, I've been surprised by some of the reactions we've gotten from non-investors.

It was an REO and both the bank and listing agent understated the GLA by around 200 square feet.

Thus, although the cases do not directly address the point, cancellations have been invalidated, notwithstanding the failure to procure an injunction prior to the end of the notice period, in cases where the claim was the notice understated the statutory time for cure, the purported contract for deed was in fact an equitable mortgage,26 there was no unpaid amount due, there was lack or insufficient service of process, or where there was a waiver of the cancellation by reason of acceptance of partial payment before (or after) the running of the notice period.Further, in Coddon v.

You can put any clauses you like, but if they assert any loss of legal rights or waive remedies provided for under state laws (federal as well) they would not be enforceable.

Most real estate investments today are held as a LLC or sub-S corp and I recommend asking to see the tax return for the property (did you every hear of anyone overstating income or understating expenses on their tax return?)