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Updated over 9 years ago,

User Stats

13
Posts
2
Votes
Amadii Owens
  • President | Brilliant Option Ltd
  • Wheatley Heights , NY
2
Votes |
13
Posts

Please HELP!

Amadii Owens
  • President | Brilliant Option Ltd
  • Wheatley Heights , NY
Posted

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