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Updated over 7 years ago on . Most recent reply

User Stats

12
Posts
2
Votes
Rhonda E.
  • Staten Island, NY
2
Votes |
12
Posts

Finders Fee Contract for a Potential Real Estate Sale

Rhonda E.
  • Staten Island, NY
Posted

I'm in NYC.  A friend told me he's working with a venture capitalist looking to sell several properties ($5M asking.)  My friend (not in RE) is getting a flat fee for finding the VC a buyer (and has a contract with the VC).  I potentially know a buyer.  I am not in RE.  I want to have an agreement with the potential buyer that if a sale happens, I, too can collect a fee from him/her.

I understand this is not strictly wholesaling because I do not have the properties under contract, but if both parties have full disclosure of fees, this is considered proper, correct? I've left voicemails with a couple of attorneys am awaiting a callback.  Thought I'd ask the question here in the meantime.

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