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Updated over 5 years ago on . Most recent reply

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Jorge L Duany
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Should i tell the Seller upfront that you are not the End Buyer?

Jorge L Duany
Posted

Should i tell the Seller upfront that you are not the End Buyer, when asked? How do i overcome this question? Would it wrong if i say, " i am?

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James Wise#5 All Forums Contributor
  • Real Estate Broker
  • Cleveland Dayton Cincinnati Toledo Columbus & Akron, OH
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James Wise#5 All Forums Contributor
  • Real Estate Broker
  • Cleveland Dayton Cincinnati Toledo Columbus & Akron, OH
Replied
Originally posted by @Dean Letfus:

I think your position needs to be this:

IF your offer is contingent on you finding a buyer, tell the truth. In fact your whole pitch should be/could be, let me help you get this sold. I have buyers, blah blah blah, give me a contract for 30 days and let me get this sold for you.

HOWEVER, if you can close on it yourself and it's a good enough deal to do so then you could be the end buyer so no need to disclose anything different.

 If the whole pitch is about helping the seller sell the property then you need to hold a real estate license as that is brokering real estate. It is illegal to broker real estate without a license in all 50 states.

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