DISQUS

Glad to see I stimulated some discussion.

Agents need to continually be careful when drafting contract language. I see too many times where assumptions the parties understood do not make it into the agreement. Later when there is a problem both parties are unclear on those assumptions or have a foggy memory because it now suits their purposes to say they meant something else.

When buying foreclosures you should be keenly aware of making sure you are aware of Federal and state tax liens as foreclosure does not eliminate these taxes and you will be responsible for them and that liability can wipe out your profit margin based on your purchase price.

Thanks Jim, many people are confused between the two and mediation is a good tool provided the mediator is a evenhanded.

I typically find that having to add an exhibits and special stipulations is difficult, time consuming and can be costly.

As for the back and forth between attorneys that is where hiring an attorney who has good judgment on what is significant and what is not worth the fight becomes very important.