Bellevue, WA · Member since 2015 · 4 posts · 1 vote
Hi there, I happen to be pretty well connected and also the president of a condo board in a very desirable community in Seattle. I know one of the owners is selling and I have a friend who wants to buy. The seller wants 280K, the buyer will pay upto 320K, what is a good way for me to get in the middle of this. (Note I dont have an agent license yet)
Commission deal?
I buy the place and then sell the contract if that makes sense?
Real Estate Agent · Buena Park, CA · Member since 2016 · 743 posts · 424 votes
10y
Sell the lead to a real wholesaler who will pay you a finders fee if you don't have time to learn to do it yourself.Since a friend is involved I would do a double close to prevent him from finding out how much you made him overpay for the property.
Residential Real Estate Agent · Grand Rapids, MI · Member since 2013 · 803 posts · 689 votes
10y
If this is a good friend I would just help them buy it at the $280K price. Can you really sleep at night knowing you made money like that from a friend? Now if you had your license you could represent the seller and get both sides of commission (6% x $280,000 = $16,800) and your friend still gets a good deal.