OfflineI put up some bandit signs. I found a buyer. I found a flexable seller. I found her a home that she likes. I can not assign the contract to her because she does not have money except for her downpayment. The seller has agreed to pay me a $3,000.00 fee for finding him a buyer. Not sure how to put it in writing from seller. Does it go in the contract, or a seperate form or as a $3,000 lien? Please help me with this last step. Thank you!
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Be careful not to collect a commission for the sale of the property, unless you are a licensed broker. It could cause you some trouble doing business without a license. On the other hand, you can get a "finders fee" for your assistance in the transaction. Depending where you live, check with the title company or law firm to see if they can put your fee on the HUD Statement on the Seller's side & just cut you a check directly at closing.
I live in Ga. Powder Springs. I will contact a closing Attorney here.
gceriani is right. It's nothing complicated as long as it's legal. It's a matter of instructing the Title Company about the $3k assignment fee. It should appear in the HUD. I've done that. Now you need to talk to your buyer and seller who will pay for the clossing cost. Blessings to all. LA
Everytime you repeat the words "I CAN DO IT" with conviction, you cancel or override your fear and increase your confidence. By repeating this affirmation over and over, you can eventually build your courage and confidence to the point where you are unafraid. -Brian Tracy-
People just classify it as a marketing fee. The others are correct. You just need to talk to the title people to see how they are comfortable structuring it.
Also, remember, if the buyer doesn't have cash, they can still give you a lien on the property, or a percentage ownership or an equity share in any profits if they are going to flip the deal. Any of those options are preferrable to having a deal fall through the cracks where you don't get anything....