One glaring clue is that the e:mail correspondence will be disjointed and feel awkward to read -- spelling will be accurate, but phrasing and sentence structure will not be of the caliber you would expect from a highly-educated professional.Variations on this scam can be very sophisticated: Some operations have "mules" on the ground here in the states, and most of the time these people will not know they are pawns in the scam.

Apologies for the long winded note and possible spelling errors (it's 3am).

It all depends on who is bringing the money and who is doing the work and or a combo of both.They key is to set up a legal entity like an LLC to do the JV and have an attorney draft the agreement spelling out each member or partners role, responsibilities and shares.

On top of that, the application she sent over was a very poorly put together file with numerous spelling and grammar mistakes.

We also wrote in some things to the agreement: each year we would consider selling (if either partner wanted to sell - we sell; or if we mutually agree to hold - we hold for another year); we have succession/plan set up should anything happen to either party (my husband and I own an LLC that owns 50% of our JV LLC so that's not an issue, but our partner owns 50% of the JV LLC in his name); things like that are spelled out in case of the worst.   2) Mortgage is $1900/month (20 yr amort.) apartment rent $1000 and shooting for $2000-2400 house rent depending on the type of tenant we get (there's a possibility we will house either a family, or rent by the room b/c we are only about a block from OU med center, so whichever happens first!).

Whatever the case, be sure your compensation arrangement with your buyer’s agent is spelled out in a buyer agency agreement before you make an offer to purchase property and that you carefully read and understand the compensation provision.Dual AgentYou may permit an agent or firm to represent you and the seller at the same time.

In either option, the agreement should spell out all duties, responsibilities, and resolutions for all kinds of issues that can occur (death, divorce, buy out options, who funds what when and how, who does what work, how hires who, etc.In the choice of the entity, you should consult your RE attorney or CPA for the best structure for both of you.

Yeah I'd make sure it clearly spells out:- terms between seller and buyer, who pays what closing, how much earnest money?

:) Now, im not an economics professor, and I can't really spell too well...

Re read your posts; look for the spelling errors, improper word usage, and sloppy sentence structure.