We let them know we would call the police and have a civil standby, and we did that once.

If there would be litigation and no contract you would not be able to have any recourse to them.

Armando Montelongo Faces Civil RICO Law Suit under the federal Racketeering Influenced and Corrupt Organizations Act ("RICO") on behalf of 164 former students of "Flip This House" star Armando Montelongo and his companies, alleging that the real estate mogul's educational offerings -- which cost up to tens of thousands of dollars, and which are attended by thousands of students every year -- do not live up to the central claim that the Montelongo "system works in any financial market, at any given time," and are instead the heart of a fraudulent scheme to sell students worthless "education."

Among those remedies are both civil and criminal sanctions that may exist in your particular jurisdiction.

Most people on BP recommend a large umbrella policy in the 1 to 2 million range to protect against potential litigation.

Of course you end buyer won't be happy and may have grounds for litigation against you if your sale contract didn't contain the proper contingencies. 2.  

I did one this week that cost me $350 and came with a simple operating agreement and a seal for the llc.I'm more confused than before, because I was under the impression that one LLC protects you from litigation on all of the deals that you do under that LLC.I've read that incorporating in Delaware or Nevada is advantageous, but that there are disadvantages of incorporating in a state that you don't reside in.  

@John Wright  this is simply the settlement business.. you can do it in many forms.you can buy for instanceJudgements that are awarded folks in litigation or buy the litigation case.Lottery yearly payouts.. those folks never have enough money.Life settlements as mentioned in this threadthere are all kinds of deferred pay options out there... the betting on an early death is one of them.the industry is full of fraud from what I have seen and heard..

Lead-Safe Housing and Lead Hazards(California Civil Code 1941.1; California Health & Safety Code 17961, 17980, 124130, 17920.10,105251 to 105257)                                                                                                                                                                         Deems a building to be in violation of the State Housing Law if it contains lead hazards, and requires local enforcement agencies to enforce provisions related to lead hazards.

Both these people that were building inspectors had a backround in construction and had to pass civil service tests to get their jobs.