Should I get a lawyer?

Do we need a lawyers to look at our lease agreement, and are there other legal issues to be aware of?

From the HUD appraisals I've seen, it's still based on comps in the area although this often doesn't seem to take into consideration the condition of the house.I've walked through torn-up dumps that needed 30-50K in work to get it back to normal and I've seen near pristine houses loaded with tons of upgrades for the neighborhood.I occasionally find the perfect storm of well below appraisal and in great condition in a neighborhood I think will pop in the near term.

This offers better flexibility in terms of ltv and rates/cost as compared to a true no doc.Of course these loans are for properties that are in at least average habitable condition.

Balance of the payment to be made in 45 days.My concern is being able to inspect the inside of the house prior to making a bid so that I can get a better "current condition" appraisal of the house.

The sale will be held at the house to be auctioned and the home is in poor condition and will require extensive renovation (as noted in the auction announcement).

A few requirements include: a) the person must pay taxes on the property for consecutive years, b) the person must use the property for an uninterrupted, continuous period of time (varies by state), c) the person must be in posession of the property openly (not hiding or secretly posessing it), d) the person must have some kind of claim for the title.Given that the proper conditions are met for the state that the property resides in, a person can actually squat on another's property and gain it through adverse posession.Hope that helps.....

Your deal has to account for the condition of these at the bare minimum because they are the hardest to find and the hardest to fix if they're bad.

Use the attorney to check that, for example, all necessary accesses are available and that rights of way have been established and any development will not cause rights of way conflicts.3) Check UtilitiesA thorough inspection of all utilities and their condition is mandatory.

****someone please read the last part of my post, i really need advice on what to do.well, i took the plunge a few weeks ago and purchased a 2BR/2BA condo through an estate sale. it was in really poor condition and so i planned on rehabbing and renting 1BR out for a bit, then maybe eventually move out after 2-3 yrs and look for a second property to invest in. sounds like a decent plan right?