So Jake the Snake (Joe the Plumber’s brother-in-law) goes from builder to builder and creates lawsuits with his favorite attorney friend against the builders. He’ll win some and lose some, but he has no penalty for losing, and his gains pay both him and his attorney. In fact, he doesn’t even have to purchase the home in order to file a lawsuit.

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Part of our job as agents is to inform our clients about the legal ramifications of certain courses of action. Real estate can be a very tricky transaction legally, which is one of the reasons that people often choose to hire representation.

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Buying a home that has been foreclosed can be a very good deal, particularly if you have money to invest in fixing it up. You generally end up with more in equity than the amount you spend fixing the property, particularly when you do some of the work yourself…. Even if you’re a first time homebuyer with no money for cosmetic or other repairs, a foreclosure may be within your reach with creative financing that allows you to finance the repairs based on the repaired value of the home.

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