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Understanding The Legal Side of Real Estate & Protecting Your Investments with Marc Soscia
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Real estate lawyers are essential to your success as an investor, and to better understand why, we have invited Marc Soscia to the Self-Wealth Real Estate Podcast today. Marc is a real estate lawyer and he is with us to talk about the most common issues that investors encounter in their transactions so we can understand the best ways to deal with them.
Listen now to learn more about the value of having a real estate lawyer helping you with your deals, what to look out for in contracts, and how to protect your business in all your transactions!
Key Talking Points of the Episode
00:00 Introduction
01:33 Who is Marc Soscia?
04:15 What kind of businesses does Marc help as a real estate lawyer?
07:09 What role does Marc play as a real estate lawyer for wholesale deals?
10:39 How does Marc handle the challenges of representing real estate investors?
13:17 Why is it important to put the right clauses in your purchase agreements?
18:13 What is the best way to approach every situation as a real estate lawyer?
19:03 What are some best practices real estate lawyers should do for wholesale deals?
25:45 When should the title search be done during the transaction?
32:13 How can you resolve issues with names on titles?
36:40 What makes an effective real estate lawyer?
40:05 What are some of the most common issues in real estate transactions?
42:46 Why should people understand what status certificates are for condos?
44:05 What is the importance of working with a real estate lawyer?
45:03 How do real estate lawyers handle financial issues in real estate transactions?
47:11 What could happen if you default on a contract after putting a deposit down?
52:18 What are the things you should consider before getting into partnerships or joint ventures?
57:17 What questions should you ask a real estate lawyer?
59:00 How can you connect with Marc?
Quotables
“First of all, you never know for sure. There’s always risks and that’s why you might consider settling a case, even when you’re certain you’re gonna win.”
“My decisions should give me the best odds but there’s no perfect decision and there’s no perfect way to do everything, same thing as there’s no perfect contract and it may work better with one seller or legal situation, but may not work so well with the other one and so be it.”
“The lawyer-client relationship has to be communicative. There has to be an open flow of dialogue and be open with your lawyer.”
Links
Website: Bymark Law LLP
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