My real estate attorney says its legal, as long as its clearly stipulated in the purchase agreement.

We were contacted by someone we are acquainted with (barely know) who got divorced last year and is required by the divorce stipulations apparently, to find and pay for a place for his ex-wife.

To counter this, all offers I write have a special stipulation requiring maintenance records for the trailing 12 months.

stipulate some of the repairs are done in the contract?

I'm hoping someone here will be able to guide me...I purchased my first home in Feb. 2009 and received the $8,000 first time home buyer credit with the stipulation I would keep the home as my primary residence for 3 years.My issue is, I recently became engaged to an Airman stationed in another state.

A real estate attorney reviewed the mortgage and purchase contract, but you are correct that no attorney has specifically said, and the contracts did not stipulate that my retirement accounts were pledged as collateral, just my personal guarantee of the loans.I would not ever sign a cross-collateralization agreement putting multiple properties at risk, after incurring the costs of putting each in a separate LLC to separate liabilities.We wanted to stop borrowing with personal guarantees, as the debt side of the balance sheet is getting scarily high, even though each property has positive cash-flow w/a 10% emergency fund set aside for emergencies, repairs etc.But mostly we want to get out of SFH & upgrade to purchasing medium-sized apartments.So guess it's time to sit down with a good real estate syndication/SEC attorney.

Second, the (institutions) most always have stipulations that they reserve the right to back out of the deal up until the transfer of deed.

I still suggest for deals under the $729,750 to submit a similiar short sale package as before with cover letters stipulating a full release of the homeowner.

Every home in my subdivision is on septic, only stipulation is septic cannot be on same "lot" as house except riverfront.

So you may want to check with your state to see if there are any stipulations.