It wouldn't hurt to provide a handful of leads and see how they do with them though.

Again, I'm not an attorney, but for gross negligence to be declared, you'd probably have to either have known about the problem but purposefully not disclosed, or it would have been a problem that any reasonable person should have known about that you didn't disclose.If there is something that you couldn't have reasonably known about -- and that's why you didn't disclose -- you're probably pretty safe.

If so will the LLC elect as S-Corp for tax purpose work?

I am in the process of closing on a property and was setting up the insurance with my agent. The policy requires a 4-pt inspection on the property and I have found that the electrical box needs to be upgraded.

My qu...

Negotiate a full release based on the asset having lead paint, asbestos, etc. that you are almost certainly going to find in a pre-1980's vintage house.Remember: "What's good is bad, and what's bad is good."

(even though you may not have clients right at that moment for that specific property, your office does get those leads all the time, so it's not dishonest) If you talk to someone in the office, try to get an email address, and start a database, then you can send out a marketing email once a month with info specific to that market (apartments or ?)

Coming in unknown, announcing that you are "revolutionizing" the industry, and asking a thinly disguised leading "question" so you can promote your business is an obvious ploy most experienced members see through.If you do have knowledge of the hard money lending industry, taking your time to answer questions, providing unbiased information and sharing your knowledge will go a much longer way to promoting your company than your current "non" participation.

My current lead criteria is as follows:Absentee Owned (in & out of state)Equity > 50%No TrustNo CorpOwnership > 7 years

If you don't have it, request a copy of the HUD-1 settlement statement from the title company -- you'd need that for tax purposes, anyway.

Originally posted by Dean Letfus:J Scott Record an abstract of the contract with the county register and or put a lien against the property would be 2 options.That would work in the case of a lien-holder who checked title prior to recording a lien, but I'm not sure it would prevent a contractor, for example, from recording a lien.Not sure I can think of a non-convoluted situation where you could get screwed by this, so perhaps it's not a big deal, but it just "feels" like there is a situation where the seller could do something stupid to purposefully or accidentally screw you over.But again, nothing obvious comes to mind, so maybe I'm over-thinking