How is this legal?

Many of the larger banks are putting resale restrictions on their deals, and the buyers also have to sign an affidavit at the closing table stating they don't have any deals pertaining to the property that aren't disclosed to the bank -- if you had a side deal, the buyer would be committing fraud.That's going to be the big hurdle...

Not much, but thanks to the posts here, I stopped making projections and started figuring out what actually needed to be done to be legal when asking other people for their money.

Obviously, I'm not a lawyer and am not giving any legal advice.

I’m still getting up to speed with real estate taxonomy, so I will need some time to digest the info, but it sounds like the easiest (at least from a legal and tax standpoint) is to start the LLC first, then get the loan.

I am not an attorney; but, as a licensee in the State of Arizona, I can draft legal documents relating to leases, purchase contracts, binding letters of intent, etc.

The new requirements are:The buyer is prohibited from selling the property for any sales price for a period of 30 days from the date of the deed.After a 30 day period, and until 90 days from the date of the deed the buyer is further prohibited from selling the property for a sales price greater than 120% of the short sale price.The above restrictions will run with the land and are not personal to the grantee.Can anyone confirm this and/or possibly have a link to a reputable source?

I am very adimant with the bank and tell them to talk to their legal department before they try to lower my contracted 6% commission.

I believe it as it's so easy, fast.It's legal in all 50 states too.

In my area the "red tags" and habitability notices are there for legal reasons.