13 Best Practical Law Guides for Real Estate

List Updated March 2021

Bestselling Practical Law Guides for Real Estate in 2021


Practical Real Estate Law

Practical Real Estate Law
BESTSELLER NO. 1 in 2021
  • Used Book in Good Condition

Practical Real Estate Law

Practical Real Estate Law
BESTSELLER NO. 2 in 2021
  • Cengage Learning

Real Estate Law: Fundamentals for The Development Process

Real Estate Law: Fundamentals for The Development Process
BESTSELLER NO. 3 in 2021

Practical Guide to Real Estate Taxation, 2017 (CCH Tax Spotlight)

Practical Guide to Real Estate Taxation, 2017 (CCH Tax Spotlight)
BESTSELLER NO. 4 in 2021

Essentials of Practical Real Estate Law

Essentials of Practical Real Estate Law
BESTSELLER NO. 5 in 2021

Real Estate: Nelson Whitman Burkhart & Freyermuth 8e (Casenote Legal Briefs)

Real Estate: Nelson Whitman Burkhart & Freyermuth 8e (Casenote Legal Briefs)
BESTSELLER NO. 6 in 2021
  • Used Book in Good Condition

Real Estate Law

Real Estate Law
BESTSELLER NO. 7 in 2021

Real Estate Law & Asset Protection for Texas Real Estate Investors - 2016 Edition

Real Estate Law & Asset Protection for Texas Real Estate Investors - 2016 Edition
BESTSELLER NO. 8 in 2021

Practical Guide to Real Estate Taxation 2013 - CCH Tax Spotlight Series

Practical Guide to Real Estate Taxation 2013 - CCH Tax Spotlight Series
BESTSELLER NO. 9 in 2021

Real Estate Law (REAL ESTATE LAW (KARP, JAMES))

Real Estate Law (REAL ESTATE LAW (KARP, JAMES))
BESTSELLER NO. 10 in 2021

Georgia Real Estate License Exam Prep: All-in-One Review and Testing to Pass Georgia's AMP Real Estate Exam

Georgia Real Estate License Exam Prep: All-in-One Review and Testing to Pass Georgia's AMP Real Estate Exam
BESTSELLER NO. 11 in 2021

Illinois Real Estate License Exam Prep: All-in-One Review and Testing To Pass Illinois' AMP Real Estate Exam

Illinois Real Estate License Exam Prep: All-in-One Review and Testing To Pass Illinois' AMP Real Estate Exam
BESTSELLER NO. 12 in 2021

Real Estate License Exam Prep: All-in-One Review and Testing to Pass the National Portion of the Real Estate Exam

Real Estate License Exam Prep: All-in-One Review and Testing to Pass the National Portion of the Real Estate Exam
BESTSELLER NO. 13 in 2021

Investing in Foreclosure Real Estate

Foreclosure real estate can be a profitable investment choice. Properties can include residential homes, commercial real estate and raw land. The most popular property types amongst investors are single family residences and multi-dwelling houses.

Most foreclosure real estate will require repairs or renovations. Although foreclosed homes are typically priced below current market value, investing in substantial repairs can quickly deplete profit margins. It is imperative for investors to engage in due diligence by obtaining comp reports, home inspections and appraisals, and repair cost estimates to determine the true cost of purchasing foreclosure homes.

Multiple options exist for finding foreclosure real estate for sale. One of the most common is through public foreclosure auctions. Homes offered through auctions are sold in "as is" condition. In some instances, the previous homeowner or tenants reside in foreclosure homes until forced out through the eviction process. When real estate investors purchase homes where people are residing they will be responsible for initiating eviction action.

Due to the tremendous amount of foreclosed properties many mortgage lenders are entering into short sale transactions. Using this strategy, banks agree to accept less than the full amount owed on the home loan in exchange for quick sale of the property.

Most short sale properties are listed through realtors, although some are sold directly through the originating service lender. The short sale process can take several months to complete. This is an important consideration for investors who plan to engage in house flipping or use the property as a rental home.

One of the best ways to purchase foreclosure real estate at discounted prices is to work with private investors who purchase bank portfolios consisting of multiple real estate owned (REO) homes.

Real estate owned houses are properties that did not sell at auction. If foreclosure properties have attached tax or creditor liens or judgments, banks either pay the outstanding debts or negotiate to have liens and judgments removed. REO homes are sold with a clean title, making property transfer quick and easy.

When investors buy homes in bulk they obtain wholesale pricing. Oftentimes, REO properties sold in bulk can be purchased for pennies on the dollar. Real estate investors can then pass along savings to individual buyers and sell foreclosure properties at deeply discounted rates.

It is a good idea to work with a foreclosure specialist or REO investor when purchasing foreclosure properties. These professionals can guide buyers through the process and help them obtain a lower purchase price or reduced closing settlement costs.

Unless purchasing foreclosure real estate with cash, buyers are generally required to obtain prequalified financing when buying distressed properties. This is particularly true for investors who purchase Fannie Mae homes through the HomePath program.

It is imperative for investors to understand the advantages and disadvantages of buying foreclosure real estate. Many newbie investors are tempted by low-cost foreclosure properties. Realize distressed real estate requiring substantial repairs or renovations could potentially cost a fortune to return the property to livable condition. Make certain to calculate all costs before submitting an offer on foreclosure homes. Otherwise, you could be investing in nothing more than a money pit.

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