Property investment can be very lucrative however there is some risk involved. It is important that property be researched and that investors are aware of the ramifications regarding the house/property they are planning to purchase.
Investing in pre-foreclosures can provide excellent profits but it’s always important to remember to do your homework before buying. Buyers are entitled to seller disclosures that should list all pertinent information. The following list includes some of the basic research that should be done prior to making a purchase. 1) A Property Disclosure Statement includes material facts, deaths on the property and recent repairs. Property Disclosure Statements are required by law in most states (in California it is required by Civil Code and is called a Transfer Disclosure Statement). 2) The HUD-1 is a settlement statement showing line item charges. The HUD-1 was created in an effort to simplify the disclosure of closing costs and it does so line by line so that the parties to the transaction are aware of all charges. 3) The Preliminary Title Report or Title Commitment should contain any information regarding easements or plans for any sort of construction on the property such as a backyard pool, fence and various other additions. 4) The covenants, conditions and restrictions (CC&Rs) are a matter of public record and affect the way the property can be used.
5) The lead-based paint disclosure gives the buyer 10 days to inspect for lead-based paint unless both parties agree to waive this right. There is a Lead-based paint was banned in 1978; however, even though a property was built after 1978 does not mean that it is lead-free. Jeff teaches the real estate secrets of purchasing pre-foreclosure properties while executing real estate theory to actual practice. Check out his workshops- Jeff is doing them all over the country http://www.jeffsworkshop.com/ Contact Information: Paramount Promotions LLC (The Countries Leading Short Sale Trainer)
Mark Maupin 303-B Anastasia Blvd. #148 St. Augustine, FL 32080 904-819-0676 Email Address: mgeronimo@thejeffkaller.com This Press Release has been submitted by PREasy.com
