In this post I’m going to discuss some laws that may apply to you regarding foreclosure investing in your state. My home state as well as at least 11 others are implementing new legislation this coming week will effect everybody from homeowners to investors to real estate agents and brokers. I’m sure that many people out there (not you of course!) will remain ignorant to the new laws, thereby putting themselves in a dangerous position by continuing to do business in the same way that they always have, which may now be against the law. I’m writing this post simply as a reminder that whether you are a real estate agent, a real estate investor, or in any business dealing with real estate and home owners, you should be very well aware of your current local laws, and you should make it a point to be in contact with someone that can always keep you updated on any new laws. This will not only help ensure the longevity of your business, it can also keep you from getting into a lot of trouble.
You should always have a good real estate attorney as a member of your business team. Someone that you can go to on a regular basis, and know that they are providing you with current, accurate information. Our attorneys are currently in the process of modifying all of our documentation and disclosures to ensure that we comply with this new legislation. I’m very confident with this, because I know that our team of attorneys are very good at what they do.
That was the main point of this post; always get competent legal advice before implementing any new paperwork or strategies in your real estate business. Never, never rely on some paper work that you’ve gotten from a course before having it reviewed by a professional in your area. Also make sure that you understand your local laws and are also abreast of any new legislation.
Happy investing,
