Are you buying foreclosure properties? If so, there’s plenty of pitfalls, problems and potential lawsuits looming if you don’t know what you are doing. The media, the consumer watchdogs and the Attorney General are “on the hunt” for bad foreclosure investors. Watch out, you could be next, unless you learn my...
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20 Proven, Ironclad
FORECLOSURE
DISCLOSURES
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| From: |
William Bronchick |
| Re: |
Foreclosure Disclosures |
Dear Foreclosure Investor,
In my 17 years of practicing law and doing real estate transactions as an investor, I’ve seen a lot of foreclosure deals. Some deals are very profitable. Some deals go bad, and these deals generally fall into two categories. In the first category, deals go bad because investors acted unethical or foolishly. In the second category, they go bad because the seller didn’t understand the transaction or got “seller’s remorse” when he saw the investor made a profit. If you are in the first category, I can’t help you. But, if you are in the second category, you are ripe for the picking by a good lawyer who will make your life a living hell unless you learn how to properly document a foreclosure transaction.
With all the media attention on bad foreclosure investors, every deal you do is under tight scrutiny. While you may have the best intentions, it’s easy for a lawyer to convince a jury that you “swindled” the seller and void a legitimate, fair and profitable deal. You could also end up with a big judgment against you simply for having bad paperwork and sloppy documentation.
In some cases, the homeowner truly didn’t understand the deal. I sympathize with these people and have contempt for unethical investors who make a bad name for our business. However, many deals that blow up are simply the result of poor explanations and poor disclosures. In other words, you can prevent a great many problems by simply explaining things better so the seller has realistic expectations about the transaction and fully understands what he is agreeing to do. In some cases, it’s the seller who is acting unethically by trying to “weasel” out of a fair deal that he agreed to. A tightly worded agreement will take away any ammunition his lawyer may have.
That’s why I dug through my legal files and came up with the ultimate set of “foreclosure disclosures.” In an affidavit form, I came up with 20 separate disclosures to help cover your backside when dealing with a seller in foreclosure.
Here’s an example of some of the things I cover:
» Practical considerations of dealing with sellers in foreclosure – how to avoid misunderstandings
» “Subject–to” deals – how to make sure the seller fully understands the implications of such a deal
» Short sales – how to document things clearly so the seller understands everything involved
» Cure vs. Payoff – does the seller really understand the difference? He will now!
» When is the seller vacating the property? What happens if he doesn’t?
» Right of rescission – does the seller have a “cooling off” period?
» Right to review with an attorney – when it makes sense to include such a provision!
» “I didn’t realize I was signing away my home” and/or “He promised me I could get the house back” – ironclad written disclosures to avoid a seller from being confused about the nature of the transaction.
» Does the seller speak a language other than English? How to document a translation.
...And Much, Much More!
These disclosures are a great list of things you can add to your current purchase agreement or as a separate disclosure form in addition to your regular purchase agreement. It’s also a very good starting point as a “checklist” of issues you need to consider when dealing with sellers in foreclosure who may be confused about the transaction. Either way, just ONE of these 20 disclosures will save you time, money, aggravation and potential lawsuits.
These twenty disclosures come from my years of experience as an attorney, investor and manager of a title company in closing hundreds of foreclosure deals. These disclosures would cost you hundreds of dollars from an attorney to prepare from scratch. Experienced attorneys like myself charge $500/hour for consultation with investors on these matters. When an investor messes up a foreclosure deal, it can cost tens of thousands of dollars in litigation and lost profits. An ounce of prevention can be a great investment in money saved!
The good news is you don’t have to pay hundreds of dollars for these disclosures. For a limited time, you can download the entire set of foreclosure disclosures in editable MSWord format for the low price of just $79.00!
And, if you order now, you get two
INSTANT BONUS downloads valued at $168.00
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INSTANT BONUS #1:
Foreclosure Pitfalls Audio Seminar
This recorded audio seminar with William Bronchick in MP3 format is yours for instant download with your paid order. Learn all of the legal, practical and ethical issues involved in dealing in foreclosure deals. Learn what things to say and NOT say when dealing with sellers. Learn how to avoid lawsuits, litigation, blowups and misunderstandings. Valued at $39.00, this audio is free with your paid order.
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INSTANT BONUS #2:
Tax Implications of Foreclosure Short Sales
This Special Report from nationally–recognized CPA Albert Aiello shows you how to help sellers in foreclosure avoid taxable gains when doing a short sale. Includes avoidance strategies for both homeowners in foreclosure and investment property owners in foreclosure. Valued at $129.00, this 23 page special report is yours FREE with your paid order.
Don’t let a profitable foreclosure deal end up in ruin!
Learn how to explain things clearly, document
your deals, and provide good disclosures*
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William Bronchick’s
20 Proven, Ironclad
FORECLOSURE
DISLOSURES
Retail Price $129.00+79.00+$39.00 = $247.00
Limited Time Offer Price Just $79.00!
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Remember... This special offer expires soon and
will not be available at this price again!!
Your partner in success,
William Bronchick, Esq.
P.S. – eMail me your success stories from using my proven strategies... I want to hear about your success!
*Disclosures are meant to supplement any state-required disclosures. Consult local counsel for compliance with any state-specific required disclosures.
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