Generally, when we have clients come in who are self-employed, we ask that they provide us with a profit and loss statement for their business. The bankruptcy court looks at the last six months before filing. I’ll generally ask clients just to put together a simple revenue versus expenses, profit and loss sheet, and that’s basically how we come up with the income
What Happens If a Buyer Backs Out of a Real Estate Contract?
A signed real estate contract creates legally enforceable obligations for both buyers and sellers. Once a purchase agreement is executed, each party is generally expected to fulfill the terms of the transaction and proceed toward closing. However, situations sometimes...