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8 October 2014 | 4 replies
Does anyone have any experience in dealing with this type of transaction?
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6 October 2014 | 5 replies
Your employees and agents can be the person leasing the houses as long as you are the broker on the deal and you are liable for all the transactions.
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8 October 2014 | 8 replies
The law says that no unlicensed entity can receive 'any' considerations due to the purchase/sale of real estate.That means gift cards, credit points, discounts, cash, etc at closing.Like @Dev Horn says if you pay a flat fee for each lead then that isn't a consideration for closing any transactions and it would be strictly lead generation.If somebody brought me a deal and I closed on it before paying them If I was fearful of paying them for it bc they were unlicensed then I think I would simply give them the option to have money out into a marketing campaign for them to manage.Like buying 1000 direct mail letters with their information on it bc that would be you putting money into marketing vs giving a consideration.
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6 October 2014 | 1 reply
You lose all power and control.A larger issue, though, even if you have a contract, is what value are you really bringing to the transaction to warrant a wholesale fee if you are just finding MLS deals?
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20 April 2015 | 10 replies
I am transitioning my legal practice in the direction of real estate and obtaining my real-estate license with the idea that I can help clients as both an agent (and eventually broker) and attorney in more complex transactions.
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15 August 2015 | 7 replies
There is a major problem with lease w option in North Carolina.My buddy BP poster @Karen Rittenhouse wrote"North Carolina has created a law that takes jurisdiction away from magistrates when dealing with lease with option to buy transactions.
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5 June 2015 | 13 replies
Now, if you get financing for a clean but from the bank, you'll have few issues with your cash buyer, but if your buyer is getting financing, that lender will question the recent sale and what you added to the property to justify a higher price.Just working hard isn't going to make that easy, glad to hear the ethical side, but deceiving a bank in a RE transaction is another federal violation.
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8 October 2014 | 5 replies
I was hoping someone can recommend a title company up in the North Shore area of Massachusetts that understands and works with Wholesale transactions?
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9 October 2014 | 19 replies
., while I won't be going the suggested route, your contribution has provided me with much needed education on how to maneuver in such a transaction.
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15 October 2014 | 3 replies
I think what I failed to mention is that in its present condition my condo is in as good of condition as the one that just sold for $83k, so to me, that's $10k of "equity"...by definition if you buy any real estate at market value you start with negative equity (due to transactional costs to sell/liquidate the investment), so even if I just broke even if I had to resell, I view that as still having equity given that fact (not sure how others view that).