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Updated over 2 years ago on . Most recent reply

User Stats

273
Posts
77
Votes
Manuel Angeles
  • Real Estate Broker
  • Los Angeles, CA
77
Votes |
273
Posts

Finders Fee as "Compensation Agreement for Services Rendered"

Manuel Angeles
  • Real Estate Broker
  • Los Angeles, CA
Posted

A wholesaler posted this "Compensation Agreement for Services Rendered" on social media:

"#1 LLC agrees to compensate #2 LLC for services rendered in the agreed amount of $#####  at the close of escrow regarding the property located at #######."

Has anyone else used this verbiage on a contract to get paid for finders fees or wholesaling?
Is it legally compliant?
Would you need to disclose the type of "services rendered"?
Would most / all escrow companies accept this as a demand of payoff?

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