Even here, the law changes on Jan 1, 2008.

these deals require lots of involvment with the owner and the owner's full cooperation.Also, be sure you find out your local laws.

My sister-in-law told me that there are lots of properties for sale and a few large developments that look like they've halted construction (she does not know why).

You should definitely know your local laws.

This would not only be an ethics violation, it would be a violation of state law, as it could be proven that the agent wasn't acting in the best interest of their client.

Luckily, I love bargain hunting so was able to do a champagne redo on a beer budget (American beer at that!!)

You need to know the local laws as many times these properties are regulated almost as hotels and the contracts are completely different.

John gives good advice.When planning any building like this, check with the local planning and development commission to make sure this is doable before you spend any more time or resources on it.Here in seattle all single family lots allows a second accessory dwelling, sometimes called a mother-in-law.

Lease options are still legal, though the laws have changed on them dramatically.

I know I need to learn the law where I'm at, but for you...do you have to send something in writing or can you do it over the phone?