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Legal Complications in WV

Posted on: Tue, 09/14/2010 - 18:32
Legal Complications in WV

First of all, Hello everyone! I picked up Dean's books a couple weeks ago and I'm wanting to get started right away.

I ran into an odd issue. I live in WV and recently had a conversation with my first real estate agent, trying to get him on board and build my team. When I explained exactly what it is I was intending to do, he acted like this was something criminal. "How do you expect to be compensated for your work. West Virginia law says you need to be licensed" "I can't be a party to anything of shady legality."

I ..have no idea if he just wasn't getting what it was I was saying and thought I was just trying to be a real estate agent sans-license, or if there's something hokey about the laws here.

Any idea what's going on? I want to get it straightened out before I attempt to contact another agent.

Thanks everyone!

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Posted on: Tue, 09/14/2010 - 19:02 #1
Attorney(S)

call any real estate attorney and tell them what you plan on doing,whatever your strategie is and ask if there are any laws that that can handcuff the process.If there is learn another dean strategie and move forward from there.

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ANY FOOL CAN CRITICIZE,CONDEMN AND COMPLAIN AND MOST FOOLS DO.
BENJAMIN FRANKLIN


Posted on: Tue, 09/14/2010 - 19:07 #2
Do they typically charge for

Do they typically charge for such consultations?


Posted on: Mon, 10/11/2010 - 03:33 #3
Finder or Broker Distinctions (in NY)

Hey Brooks,

I live in the Eastern Panhandle of WV near Martinsburg. What part are you in?
I'm trying to find out the same thing.

Below is a link I came across from someone elses post.

This was an ACTUAL court case in NY!!

I would hope WV would be less strict than NY but it seems it depends on
how EACH state interprets what we do. Sad(

Send me a personal message back. Let me know what you find out because
this is a big concern to me also.

The main difference in the NY case if you read over the court case,
between a finder and a broker is that a broker brings two parties together
and helps them NEGOTIATE and FINALIZE the deal.

Hope this helps.
Patty
http://decisions.courts.state.ny.us/10JD/Nassau/decisions/INDEX/INDEX_ne...

__________________

Keep Your Life Simple: (Matthew 6:29-34)


Posted on: Fri, 10/15/2010 - 01:53 #4
brooksthegreat wrote:First

brooksthegreat wrote:
First of all, Hello everyone! I picked up Dean's books a couple weeks ago and I'm wanting to get started right away.

I ran into an odd issue. I live in WV and recently had a conversation with my first real estate agent, trying to get him on board and build my team. When I explained exactly what it is I was intending to do, he acted like this was something criminal. "How do you expect to be compensated for your work. West Virginia law says you need to be licensed" "I can't be a party to anything of shady legality."

I ..have no idea if he just wasn't getting what it was I was saying and thought I was just trying to be a real estate agent sans-license, or if there's something hokey about the laws here.

Any idea what's going on? I want to get it straightened out before I attempt to contact another agent.

Thanks everyone!

I see this post is a month old, but here is my two cents, and no I am not a lawyer, so even if there is a consult fee pay it and get the real answers.

First, never tell the realtor what your exit strategy will be. They do not need to know. All they need to know is that you are purchasing real estate.

I think your realtor is afraid you will be practicing real estate without a license, which is a crime in all States I know of. It is a third degree felony in Florida.

You must have equitable interest in the property you intend to sell. That consult will tell you what that means in your state. It may mean $1 and a contract or Option to purchase.

You certainly need to research this thouroughly.

Hope this helps,

Rodney


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