I'd like to get a lawyer to help me interpret it but don't know how to not get ripped off.....any ideas?

Btw, if you don't close, the holder of the earnest money is on the hook to interpret the contract and either award the EM to one party or send it to arbitration.

I am not an accountant, so run it by yours for sure, but this is how I interpret it.jeff

The PA dept of Revenue's interpretation of this type of transaction does not appear to be based on the facts of the documentation.You are selling your rights to purchase the property and should only be taxed on your assignment fee.

I read this several times and it needs to be interpreted by someone with more legal training than I have.Please do let us know what you find out Rodney!

Bryan, another factor which I should have mentioned is that the cash value within a life insurance policy is protected from most lawsuits.This is only my understanding and is not legal advice nor should it be interpreted as legal advice.Bryan, you are correct that insurance as part of a wealth building plan is complicated.

Saying "I didn't know about limiters" could be interpreted along the lines of the 5 year old saying "I didn't know it would be that hot" except they'll say "you're not a five year old, you should have known."

You can only 'sell' (my interpretation of 'sell' (or 'sale') is a "closed" deal) to accredited investors so between the ad and the sale there is a vetting process (password protect details, etc....)

When people just TELL people something is when problems happen.In writing it is not your work against their word or mis-interpretation of communication.

That's my interpretation.