Possession: The buyer typically takes possession of the property immediately upon signing the contract.

All Contractors are subject to the lender’s determination that the contractors are qualified and experienced, have all appropriate credentials required by the state, are financially able to perform the duties necessary to complete the renovation work in a timely manner, and agree to indemnify the borrower for all property losses or damages caused by its employees or subcontractors.Multiple Specialized Contractors:Ø Since this is a limited repair/renovation program, no General Contractor is required.

(This requirement may be waived under certain special circumstances constituting good cause for a waiver, such as the loan being issued because of a bona fide emergency, with the lender obtaining written consent from the buyer to proceed with the loan without the disclosure notice.)The closing on a home equity loan must occur at a permanent office of the lender, at a title company, or at the offices of a lawyer.After the closing occurs, the borrower has a three day period during which the borrower may cancel the loan without having to pay any charge or penalty.

Especially if it an odd sized door that Home Depot or Lowe's doesn't carry in stock and requires a special order.

Cook County Property Tax Incentives: Cook County has a tax incentive program that allows projects to receive a special property classification for a 12 year period that lowers annual property taxes by as much as 50% through the term of the incentive program.

Mentorship OpportunitiesAre there any mentorship programs or experienced investors specializing in European or international real estate that you'd recommend?

Partner Driven specializes in identifying properties that can yield fast profits with limited upfront investment, making this an ideal opportunity.

Is the beneficiary of the trust in possession of evidence?

I hope all this was not just for his benefit as my spouse and I were really looking to be guided by a lawyer who specialized in this.

While the wealth of knowledge and experience on BiggerPockets is wide and deep, I would not trust a decision like this to the internet, I would ask you CPA and if you do not have one find one who specializes in this sort of thing.