"The law generally applies to the sale of a home in foreclosure to a buyer who wants to purchase the home as an investment."http://www.banking.state.ny.us/hetpyrul.pdf
I was reading up on this and I have a question does this mean all foreclosed properties bought by an investor will have this rule in affect?
If you suspect that your buyer is doing or has done any of the following, the buyer may have committed a felony and the contract may be voidable—you may be able to legally cancel the contract and the sale, even after it has been signed and executed.Your buyer may not, at any time, deceive or mislead you in any way about any aspect of the sale of the house or about any aspect of a buyback agreement.
In particular, your buyer must not:
• Deceive or mislead you in any way about the value of the house;• Deceive or mislead you in any way about the amount of money you will receive as
a result of the sale;• Deceive or mislead you in any way about the timing of the foreclosure process, or
about how much time you have until your home is put up for foreclosure auction by
the court;• Deceive or mislead you in any way about the terms of any contracts;
• Deceive or mislead you in any way about the nature of any document the buyer
asks you to sign;
• Deceive or mislead you in any way about your rights and responsibilities before,
during, or after the sale of the house.
*Also what’s to stop the seller for intentionally claiming they buyer investor “mislead” them?
it seems the seller could cause a lot of harm-