How do I protect my finders fee?

[Andrew Carlson]

Long story short, I found a huge deal off market and developed good rapport with the owners nephew, who seems to be kind of organizing the deal. I have no means of purchasing a property this big. I know two people that could actually close something like this. One of them wasn’t interested, and the other one I don’t know all that well, but I gave him the information anyways.

The seller said I could sign a “Memorandum Of Understanding” (MOU) stating I am entitled to a finders fee if my buyer closes the deal.

My question is this...if my buyer takes this deal and passes it along to one of his buddies,(Remember, I don’t know this guy all that well) how do I ensure I retain a piece of the pie?

[Greg Dickerson]

Originally posted by @Andrew Carlson:

Long story short, I found a huge deal off market and developed good rapport with the owners nephew, who seems to be kind of organizing the deal. I have no means of purchasing a property this big. I know two people that could actually close something like this. One of them wasn’t interested, and the other one I don’t know all that well, but I gave him the information anyways.

The seller said I could sign a “Memorandum Of Understanding” (MOU) stating I am entitled to a finders fee if my buyer closes the deal.

My question is this...if my buyer takes this deal and passes it along to one of his buddies,(Remember, I don’t know this guy all that well) how do I ensure I retain a piece of the pie?

 You want to have anyone you present the deal with sign a NDNC. This will cover you.