Kingston, RI · Member since 2017 · 2 posts · 0 votes
I manage a property that a potential offer came in on. The property isn't listed for sale and the owner said he would consider selling it. The offer that approached me is higher than what the owner wants to sell it for. I'm a manager and not a licensed agent. There is a decent profit In it as a finders fee for me. How do I do this legally and stay "in the deal".
If you manage the property you might have a fiduciary duty to the property owner and attempting to profit (without the owner knowing) may violate that. I do not know your state laws. I would also consider it unethical as you technically work for the owner. To profit without his knowledge seems wrong to me.
The owner would be aware of all profits from the get go. Transparency is best here. I want to remain working for the owner well after the sale should it go through. I am looking for a way of profiting here on this sale. I am working with the buyer and was wondering i should get the house under co tract and assign it as a wholesale deal.