My worse fears may come true. - Part I

There's nothing worse than the fear that no
matter what you do to protect your interest,
that the corporate buyer might succeed in
leaving you worse off than it found you.
Worse off meaning, no house and no money
or leave you with a house that's worth squat.

I know what you're thinking, you got a
contract (purchase agreement) how could
that happen? Didn't you have a lawyer look
at it before you signed on the dotted line
dummy? Yah, I had a lawyer look at the
agreement. In fact I had a lawyer review the
first offer and a different lawyer review the
second offer. But here's the thing that you
should know, that just because a lawyer
reviewed the agreement doesn't make it a
good deal for you.

A real estate lawyer reviews the offer to
ensure that it is a legal agreement. A good
lawyer looking out for your interest will not
only review the agreement to make certain it's
legal but ensure it's a good deal for you too. A
contract can be legal but a bad deal for you, just
as a good or bad deal, could be a contract that's
illegal.

Worse case senario: Imagine to your utter
horror, to discover that the cheque provided
to you on closing, buy the corporate buyer for
the sale of your home bounced. You review
your purchase agreement and you note that
it doesn't specify the type of cheque, such as
certified cheque, or cashier's cheque. It just
simply says cheque or negotiable cheque.
Which means the money hadn't been guranteed
by the bank. It also means that an unscrupulous
corportation just made off with you house for
free. Do I hear lawsuit?

The difference between a certified cheque, cashier's cheque, bank draft,
money order and traveller's cheque. Shttp://www.bankrate.com/brm/news/DrDon/20050823a1.aspee link.