The declaration and by-laws will spell out what it takes to make major HOA changes.

You can see the influences of big business in this country, clearly in the ACA that took on our health care system and the outright war declared by the industry in all kinds activities to sabotage the Act.

I agree with @Larry Chafe , getting a seller to contribute to "feeding a negative cashflow" but if the seller wants to avoid a short sale, with all the negative connotations of a short sale (hurts your credit - FICO, you have to declare on US Govt employment and loan forms that you went through a foreclosure, the IRS may "claw back" and say you owe money on the short sale, etc), but...It is not impossible.

. - Presumptions.It says in part: "...All contracts, options, or other devices not based upon a substantial consideration, or that are otherwise employed to permit an unlicensed person to sell, lease, or let real estate, the beneficial title to which has not, in good faith, passed to such party for a substantial consideration, are hereby declared void and ineffective in all cases, suits, or proceedings had or taken under this chapter; however, this section shall not apply to irrevocable gifts, to unconditional contracts to purchase, or to options based upon a substantial consideration actually paid and not subject to any agreements to return or right of return reserved."

I have bought properties sub2, placed the property in a land trust, transferred beneficial interest, added myself as additionally insured, got a LPOA from seller, had seller declare he knows about DOS and its risks, etc.Never had the DOS enacted.

Marie is right, escrow instructions is the only requirement for closing, I have done the same on two occasions with just escrow instructions and no purchase contract.Same response Will, LOL.Going without a contract is a bad idea IMO, I have no idea who issued the closing instructions but they just sucked up more liability by giving directions for both sides of the transaction and I have no idea what the letter included but the contract is a source document agreed to by both parties, not a declaration by one party.I'll have to figure out how to exclude Cali from the rest of the country I guess. :)

What financial muscle, bonding, etc. do you have in the unlikely (debatable) event that an investor sues?

The IRS is definitely pushing hard for SE taxes etc ....even though we took low to reasonable W2 wages & declared 'full time involvement'.

Self declared experts.And.

Instead of paying the $24M (he's worth an estimated $80M), he declared bankruptcy in the company that was sued, thereby protecting himself from having to give up any of his personal wealth.While what he did was completely legal, it's not hard to argue that it was also completely unethical (not living up to your contracts with the company who helped make you wealthy).