Real Estate Deal Analysis & Advice
Market News & Data
General Info
Real Estate Strategies
Short-Term & Vacation Rental Discussions
presented by
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Tax, SDIRAs & Cost Segregation
presented by
1031 Exchanges
presented by
Real Estate Classifieds
Reviews & Feedback
Updated over 9 years ago,
Please HELP!
Hello BP,
I am a newbie to REI, however a deal landed in my lap that would be great as a first deal. I'm really unsure how to handle it.
I've advised the seller that I would not be able to buy the property but potentially find a buyer for the requested price. What are the legal options available to me in my state(NY). Will a option contract keep me legally not obligated to buying the property if I cannot find a buyer within a specific time or buyer backs out. If so, where can I find such contract?
Is the option of a finder's fee agreement with seller or buyer legal in my state?
Based on the math this is a pretty sweet deal I don't want to lose.
Thanks
AJ