Updated over 1 year ago on . Most recent reply
Help with ethical deals
I am a new investor trying to get my first deal. I found a property, contacted an agent, made an offer. The original deal fell through. I contacted the seller directly. They are willing to sell the property to me discounting the realtor commissions after the contract with the selling agent is up. I do not want to do anything unethical or to jeopardize myself legally. Is there anything wrong with making this deal now without the realtors saving the money on their commissions? It would save me $30k. Please help
Most Popular Reply
#3 1031 Exchanges Contributor
- Investor
- Las Vegas, NV
The seller signed a contract that MIGHT have said “if anyone that looked at the house while we have this contract ends up buying your home you owe me a commission.” You might have signed a contract with your agent that says if you buy a home you looked at with him you owe him commission.
It’s really contract dependent. Slightly scummy but probably legal if you have a spouse who could buy it in just their name? Find a discount realtor that would handle a “done deal” for 1% and just save most of the money?