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Updated almost 4 years ago on . Most recent reply
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HELP! How to structure a small land deal
Hello, I have a deal on table. I'm going to tell you the entire story in hopes to get full advice. Got a response from someone that I text about her property. The property is a narrow strip of land that once had a property on it, but is now torn down and the land is unbuildable. So I knew I would have to figure out a way to either buy one of the properties on either side or sell the land to one of the owners on each side. I spoke with the owner and couldn't get her to agree to a price or a contract, I offered 7K. She wanted me to speak with the other owners first. The other owners basically told me " Not going to sell and you can't do anything with the land BUT sell it to me" ... so one wanted to really low ball. I did negotiate $8500. My question now is, how should I structure it. I'm guessing $1500 finder's fee is in order. The owner is out of town and I would handle everything for her, but how do/should I do it. Seems like such a small amount to go through a double closing or even an assignment. Should I just structure a contract with the seller and the buyer with a $1500 fee to my company? Help please, how would you handle it?