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How to Avoid Legal Issues as a Small Business Owner
Summary: Small business face numerous legal issues that can be avoided. If you’re a small business owner, you’re faced with a variety of tasks that can be overwhelming at times. Additionally, you’ll also have to make sure that you run a business that’s both ethical and in compliance with all the state laws and regulations – to avoid any threatening lawsuits other issues. Here are some tips that’ll help you minimize the chances of them from occurring. A Conflict of Interest If you’re running a business with a partner – like a family member or a friend – it can turn ugly at the bat of an eye if you’re…
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REOs and Comparative Value
Article provide by Barry K. Rothman Bank real estate owned (REOs) are sold to buyers in as-is condition. The property is a prior foreclosure. Perhaps the previous owner no longer cared to maintain the property. This fact alone can require the new owner to add significant capital to the cost basis price. Most bank owners don’t want to make repairs or even lower their asking price to compensate for the buyer’s added costs. Although it’s important to negotiate when possible, most buyers of REOs understand they’re going to perform repairs in addition to the purchase price. Transaction Closing The time needed to close the REO property can take at least…
