estoppels: More mistakes agents make when selling income property
- 06/02/08 01:47 PM
The biggest thing is the most investors are not really sophisticated. And, unless they have a professional propety manager (and that isn't always the case), it is very difficult to get the documents you need to property analyze a property. One of the mistakes is to wait until the seller provides the information to realize what you don't have. So, I suggest two things: 1) Add a clause that states that the Buyer due diligence period (what it is called on the commercial side) begins upon reciept of the seller disclosures. So, if the seller is slow in dribbling the discloures … (1 comments)
Guy Berry is a frequent expert witness in real estate litigation and an accomplished trainer in real estate law and contracts. In addition he has been licensed for 30 years as an agent and managed large offices, including Coldwell Banker and Century 21.
The biggest thing is the most investors are not really sophisticated. And, unless they have a professional propety manager (and that isn't always the case), it is very difficult to get the documents you need to property analyze a property. One of the mistakes is to wait until the seller provides the information to realize what you don't have. So, I suggest two things:
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