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Updated almost 11 years ago on . Most recent reply

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Rick Cutrera
  • Flipper/Rehabber
  • AZ OK KS MS, FL
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Looking for a "Finders Fee" document

Rick Cutrera
  • Flipper/Rehabber
  • AZ OK KS MS, FL
Posted

Does anyone have or can share a document for a real estate finders fee?  A friend is over-leverage with his hard money lender getting ready to foreclose. 

 I have a builder buyer who will buy the property and is willing to pay 3% finders fee.   Any suggestions would be helpful.

Rick

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Hattie Dizmond
  • Investor
  • Dallas, TX
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Hattie Dizmond
  • Investor
  • Dallas, TX
Replied

@Rick Cutrera I would personally get the property under contract from the seller, then simply execute an assignment to the builder.  You can get wholesale/assignment contracts in FilePlace here on BP, under Contracts.  Require a reasonable non-refundable deposit from them, in case they fail to close the deal, then you get the balance of your assignment fee at closing, directly from the escrow agent.  Or, if they are committed to the closing, you get the entire 3% up front, when you execute the assignment contract, then you are completely out of the deal before closing.  Either way, getting the property under contract ensures you don't get left out by the builder.

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