Quote from @Steve Sayler: The cancellation fee is fully disclosed, so you are obligated to pay it.However, you are firing them for failing to uphold their end of the agreement, therefore the contract should be voidable at your option.

The listing agent has no obligation to present oral offers and if she does there are many elements that would not be addressed thus creating confusion and misunderstanding.

No other industry in existence in U.S. operates with such a tiny margin that isn't gargantuan in it's corporate size and volume.

REASSURE THE AGENT THAT THEY WILL BE STILL RECEIVING THEIR $2K PLUS THAT THEY WILL BE USED AS THE LISTING AGENT WHEN YOUR FINANCIAL ENTITY IS COMPLETED WITH THEIR REHAB---  (SIDE NOTE: MAKE SURE YOUR CASH BUYER TRULY DOES USE THE AGENT FOR THEIR DISPOSITION- IF YOU DONT KNOW THE BUYER WELL ENOUGH, I'D EVEN PUT A CAVEAT WITHIN THE ASSIGNMENT CONTRACT STATING THAT CONTRACT IS CONTINGENT UPON CASH BUYERS PROMISE TO UTILIZE THE "AGENTS FULL NAME AND LICENSE #" WITHIN THE ASSIGNMENT- THIS WILL OBLIGATE YOUR CASH BUYER TO KEEP YOUR PROMISE TO THAT AGENT TO USE THEM FOR THE DISPOSITION-  MAKE SURE THE CASH BUYER FOLLOWS THROUGH WITH THIS AS WELL -  KEEP YOUR PROMISE TO THAT AGENT AND YOU WILL BE ABLE TO DO BUSINESS IN THE FUTURE WITH HIM OR HER.NOW- EVERYONE KNOWS EVERYTHING (TRUST ME- IT WORKS)AGENT WILL NOT COMPLAIN WHY?

I am not an attorney, so don't take this as legal advice, but I had a lender tell me that financing with a DSCR compliments holding a STR in an LLC for liability purposes.Financing an STR held in an LLC with a 2nd home mortgage that reports to your personal credit creates a hole in the corporate veil per se.On the other hand, financing an STR held in an LLC with a DSCR loan that is qualified only by the asset's income offers much more separation of personal and business liability.

How do you handle annual reports, taxes, and other obligations?

If you want legal help that isn't a rip off and would offer a registered agent and mail services, check into Anderson Business Advisors or Prime Corporate Services.

Institutional Hard Money lenders have a lot more credit exposure, since there are banks, hedge funds, and corporations backing the funding.

My daughter and son-in-law opened their own business 3 years ago and so far have done well, but he built a good reputation in his field before starting their own, she kept her good corporate job for benefits, and they are now looking to invest in property with the profits, hoping for more passive income in the future as they’ve realized how much extra work a small business is with compliance, licenses, workers comp, etc.

Would you expect the HOA to send you a check, or is the new owner under an obligation to refund you once they receive the credit?