(Unless you flip homes for a living)Pending Home Sales Slump As NAR Warns "Activity Has Essentially Stalled"New Home Sales rose in May, Existing Home Sales dropped in May, and today we find out that Pending Home Sales also tumbled in May... so that's 2 down, 1 up - not good (especially as mortgage apps are tumbling in June)This is the second monthly decline in a row, but Pending home sales are down 2.2% YoY - the 5th straight month of annual sales declines.Home sales fell for the year in all regions YoY, but the decline in the last month was concentrated in the South, while the other three regions reported MoM increases.

If you know the market well enough, then lack of disclosure is not totally a reason to abandon discussions though you should have some warning flags up. 

Maybe it will have to be litigated in the future.If I had a client acting on your interpretation, I would warn them about the legal uncertainty and the risk of being disqualified.Thanks for bringing this up.

But I always warn people to be very careful with out of state investing.

any other warnings I may not be considering?

Could you please elaborate on your warning that "you better be 100 percent sure you know what you are doing"?

Warning: you must start an exchange process before selling the property.

Unfortunately, then the property is market warn and buyers ask "Why has it been on the market so long?

I know that sometimes animals (and people) can snap without warning and if that were to happen I don't want to suddenly be responsible for thousands of dollars of medical bills. 

Be warned that these can go wrong easily if there is any family disagreement.