Contracts and Offers

From my research, this law in New York states that the seller has up to two years after date of closing to back out and sue you for damages, lost equity etc., with penalties and even jail time. excellent article here:

http://www.tweisslaw.com/negative.php

My questions are 1) Why would an investor enter into such an agreement with such a risk?

2)Wouldn't obtaining insurance prove to be extremely difficult as the properties are seen as liabilities to insurance companies because of their possibility of being in lawsuits within two years?

3)How are assignments being done in New York, within the rules set forth in this act?

New York property assigners/New York Investors any feedback on how it is done would help greatly

God Bless

There is a property in my area that is bank-owned. It went for Sheriff's sale in July 2010. It has been listed with a real estate agent since then, starting at $137,900 and gradually reducing in price to the current $97,900. I have NEVER done a deal, and have rarely had the courage to even post on the Dean G site. I am just ready to get started and am going to dive in.
I hesitate to try an assignment because the house has a cesspool and needs to be hooked up to a public sewer line. There is a property directly behind this one (which is empty), and the house I am looking at needs to get permission from the rear house to use the right-of-way to get to the sewer line.

I have been talkin with many real estate experts (so they claim) and they are sugesting that it is illegal to assign a Real Estate contract in the "sun shine" state.
If you are a real estate investor in Florida I would like to get your input on this.
Thanks in advance!

Luiz

Hi, I have started my marketing with finding houses to give my buyers, and I have heard some stories about bird dogs fighting legal issues with certain real estate agents threatening to sue bird dogs saying they aren't licensed. Obviously it's important to know the legalities of what i'm doing to avoid being a "target" for a law suit. Any suggestions on what to know or look out for? Thanks

Just wanted to see if anyone has a good Assumption of Mortgage contract that they find helpful? I know I can use a PA and add the contigencies, but wanted to see if there is one already available. Thanks!

I recently moved to Fl. I hold a real estate license in VA. I would like to know if there is a conflict of interest reguarding the techniques that Dean suggests. I want my license to remain in good standing in Va. I originally was going to get my FL license, however after reading Deans book I do not feel I will need it. I just do not want to jepordize my good standings in VA. After all agents who hold a license are expected to know better. Please advise...

Thanks

Attention new investors! I have been at this since november 2010 and I have a lot of knowledge and drive, I have buyers waiting on me to bring them deals. Here is/was the problem. When I began putting in offers on MLS properties my realtor and I were doing CMA's and figuring the value of the house based on price per square foot, beds, baths, year built, sold within 90 days, within a half a mile to a mile of the subject property. There was one problem with this, were were pulling comps from the wrong houses. We had pulled comps from fully refurbished houses but we also included "as is" properties or "REO" properties. This is a BIG no no!!! Do not include properties that have not been rehabbed! It will make your price per sqft wayy too low!

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im wondering if anyone could help me with some questions i have about locking a deal up. im a semi experianced house flipper but have to use no money down assignments to get started back in real estate my buisness crashed and i cant afford the mentor program and have a fire for real estate looking for someone to help lead me in the right direction?

1.can i use all the forms online here in pennsylvania?

2.what wording do i use im afraid to make a mistake if i have a deal im looking to lock up and assign to an investor what exact steps do i do.

3.print the provided purchasee agreement off the site?
how do i properly fill it out?

4.i have to sign my name then and or assigns after it on this contract? will this allow me to assign it ? buy it myself? do a lease option?

What if someone became my buyer's agent? I look for the houses they want and assign contract to them. I think that that'll help me to learn.