All Forum Posts by: Alison Anderson

This is a great idea.  Thanks for sharing. 

This looks really cool, but, I am cheaper than heck...I have a feeling $400 a year is probably the cheapest legal fees I could pay...but, wondering about the quality of this service, could anyone testify?  

Thank you so much for your help guys.  I feel like if I were to find myself working on a simple deal, I would start to question what was wrong. :)

Interesting transactions are the story of my life.  I feel the listing agent will cooperate because I am bringing the buyer.  I just want to make sure that when I approach him it is with a plan that is above board and puts no one at risk.  It is the business and the property.  

You are right.  We do not want to write it up in any way that compromises financing.  The bank would consider anything in addition to the contract price a wholesale fee and not part of the purchase price.  That is interesting and could definitely kill a deal.  Would this not be relative to paying an agent a commission?  The purchase price is not considered the proceeds minus the 6% commission.   Jv...I do not know anything about this either but it makes sense.  Is this ok considering Bob in no way owns this property at all?  To walk with proceeds would he not first have to have some sort of ownership interest?  The psa would still be between Mike and seller, correct?  Bob then has a background agreement for proceeds? But Mike would sign the listing?  

I am a licensed broker and own a real estate firm in Washington.  I am working with a buyer who has found a business right over the border in Oregon where I am not licensed as a broker.  He is looking at a business, not just the land.  In this case, is it legal for me to act in the capacity of a finder and charge a finder's fee considering he negotiates the deal himself?  Could I legally act in the capacity of a business consultant?  If so, how do I legally do this and what documentation to I provide to escrow in order to be compensated?  

I am a real estate agent.  I have a client we will call Bob who is fixing his father in law(we'll call Mike)'s home and selling the home for an inflated price after the remodel is complete.  They have a notarized purchase and sale contract where Bob agrees to purchase the home for $300,000.  I think the best way to sell would be to rewrite the contract to have Mike sell to Bob and or assigns to put Bob in the position of the wholesaler, so that if the home sells for $550,000, Bob keeps the additional money.  We had originally thought that Bob could lien the property for the construction costs, but, the profit will be directly related to what they end up selling the property for, which is usually an unknown until the final hour.  The reason Bob did not buy the property outright from Mike is because the end goal is to fix and sell, so it seemed silly to pay excise tax twice, also there was a lien on the home and Bob did not want to fool with financing to acquire the property to just turn around and sell.  This is my first deal that has anything to do with wholesaling so I thought I would throw the situation out to you all to make sure it is a reasonable way to move forward.