Finder's fee in Nevada
I'm a multifamily investor who is searching for a property to buy in Nevada. While searching I found an off-market property that does not meet my investment criteria. Since it is off-market I was thinking of selling the property information to another investor and charging a 2% finder's fee at closing. Is it legal to do that in Nevada without a license?
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#2 All Forums Contributor
- Real Estate Broker
- Lake Oswego OR Summerlin, NV
probably not..
I would second that probably not... Check NRS 645.280
A work around would be to get the property under contract and assign the contract to the end buyer.
Originally posted by @Kurt Brauner:
I would second that probably not... Check NRS 645.280
A work around would be to get the property under contract and assign the contract to the end buyer.
NRS 645.280 says it's illegal for a licensed broker or salesperson to pay a finder's fee to an unlicensed person. But what if both the person paying the finder's fee and the one receiving it are unlicensed?
In my experience it is illegal to receive a percentage of the sale of real estate without being licensed. You can however, receive a flat fee. But of course, I’m not an attorney so I am not quoting law.
I was told be a few realtors that you cant unless you are a broker
One told me its possible as a consultant
But of course anyone in theory under the table without paperwork could give something to someone
If its a lot of money one would have to pay the 40% tax if its an investment deal as an intermediary but not allowed to sell property
A lot of frustration around
But if I got someone to pay a friend to build a mansion would it be legal for him or my friend to pay a finder fee of 6 figures?