proven resource 5 precautionary tips for aspiring real estate investors

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REAL ESTATE 5 PRECAUTIONARY TIPS FOR ASPIRING INVESTORS Real Estate Attorney by David Soble www.provenresource.com

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REAL ESTATE5 PRECAUTIONARY TIPS FOR ASPIRING

INVESTORSReal Estate Attorneyby David Soble

www.provenresource.com

On November 24, 2014, the FBI Detroit FieldOffice issued an official press release that it

had arrested 16 people in a telemarketing andreal estate ponzi scheme netting the

offenders over $20 million from 290 victimsnationwide.

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It seems that every year lawenforcement exposes

unscrupulous real estate ormortgage scams

nationwide.

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Here are 5 things toseriously examine

before purchasinginvestment property

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Visually inspectthe subject property.

1

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In real estate, variables such as property locationand structural integrity, affect value.

A physical inspection of the property is imperative.

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Order a property title search.

2

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Mortgages, delinquent taxes, assessments, andjudgments are but a few types of liens that will directly

impact a purchaser’s ownership rights.

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Investigateparticipants.

3

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When in doubt, contact state licensing authorities to see if an activity is regulated or contact a real estate

attorney for an opinion.

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Funding.

4

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Title companies will provide title insurance to verify propertyownership, address property liens, confirm property taxes

and itemize money disbursements in a transaction.

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Documentation.

5

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Real estate transactions involve many documents thatinclude, but are not limited to sales agreements, deeds,

mortgages, discharges, liens, settlement statements,authorizations and resolutions.

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Review these documents with a real estate agent, or a real estate attorney.

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Most importantly, never endorse any documents that are blank or contain incomplete or blank fields. Never

relinquish original documents without retaining copies.

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Hire competentprofessionals.

5

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Successful real estate investing requires patience andreliable information. Rushing into a transaction without

thoroughly performing one’s own due diligence is an open invitation to deep financial disappointment.

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About the AuthorSince 1990, attorney David Soble has representedlenders, loan servicers, consumers and business ownersin real estate, finance and compliance matters.

For over 24 years, David has been involved inthousands of real estate transactions and hassuccessfully negotiated and saved millions for hisbusiness and consumer clients.

Disclaimer: You should not rely or act upon the contentsof this article without seeking advice from your own, qualified attorney. Copyright 2014. Proven Resource. All rights reserved.

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