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Be careful buying foreclosure for business use

Check zoning laws; include key contingencies in contract

Q: With all the foreclosures in my area, I am pondering the idea of buying a small house and converting it for business use. I have excellent credit, so I know I can do this. However, I am not sure where to start. How does one find homes that are in foreclosure? Is a Realtor needed for this? I am also not sure where to find laws/regulations on opening a small business in a residential area? There are already a few small businesses operating out of previous residential homes in the area that interest me. I am aware of the responsibilities that will be upon me for owning rather than having a landlord to call for problems. So, in your opinion, is it wiser to own than rent for tax benefits? A: I can write a book and still not answer all of your questions. The first thing you must do is retain an attorney who understands zoning issues. The zoning laws in your area will impose restrictions on the kinds of businesses that may be permitted, and obviously you don't want to buy a ...

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