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Updated about 15 years ago,

Account Closed
  • Real Estate Investor
  • Hawaii
15
Votes |
34
Posts

I NEED YOUR HELP!

Account Closed
  • Real Estate Investor
  • Hawaii
Posted

I would appreciate anyone that could help me out with this dilemma.

Here it is....
I spoke with a guy yesterday that desperately needs to sell his home.He's tried Agents/Realtors, but with no luck. The house has been on the MLS for well over a year. He lives in a Luxury Home, the appraised value is $2.5 Million. He recently had it appraised and was able to prove it. It sits on 6.75 acres of land, a lake, pool, spa/jacuzzi and a lot more luxurious ammenities. But...I was able to talk him into $1.85 Million.

He made me an offer. He says, if I'm able to find a buyer, he'll pay me $200,000 himself. That's on top of whatever I make from the assignment. He also says that if I can just refer someone to him who purchases it without locking it up, he'll still pay me the $200,000. That's an offer I couldn't refuse. This would be my first deal, so picture making that sort of money on my first deal.

Now, here's the part where I need help. I feel sort of idiotic for having this issue, but as I look at the forms, I realize that I don't know how to fill them out. I haven't figured out the "Agreement To Purchase" form. I'm having problems where it asks about the title company, because I don't have a title company. The numbers part of it is also confusing me. Better yet, mostly all of it is confusing me.

If someone could walk me through the process, I would greatly appreciate it. OR...is there a way that I can leave the contract out of it and write up an agreement that he'll pay me for the referral?

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