Questions For The Real Estate Attorney
After browsing some "RE attorney" related topics, I thought I would post this very general and vague question that might actually be beneficial for others in the same shoes.
I am planning on taking on my first REI rehab, but have come to the conclusion it would be to my best interest to consult a RE attorney to find some "for sure" answer to lawful questions such as;
1) Liability
2) Insurance - details from how I can be held liable for accidents and incidents that occur on my property
3) Assistance with purchase agreements
4) Possibly being the primary service for closing on my properties.
My question is - are there any other topics, questions, or issues I might want to find out on the topic of REI and flipping properties that anyone can think of? Possibly, questions you have needed to seek out the services of an RE attorney? Or issues I might want to consider going over with a RE attorney??
Thanks in advance for any and all advice.
wrt to Liability, creating some form of entity s the classic solution, but owning the property in an LLC and create all sorts of problems with others aspects of the deal (taxes, insurance)
Being able to get 3) Assistance with purchase agreements at a reasonable fee is critical.
buying raw land v. a developed lot (some of those due diligence lists have floated around)