Can Anybody Do This?
What are the laws for private REI? Aren't we brokering these houses? I have a possible deal going but my partner is afraid of legalities. Neither of us have any kind of credit so I thought we could get the house under an OPTION TO PURCHASE, and find a investor with backing, then do a double close, How can I do this?
Sounds like you have most of the steps down. If you are going to get an assignable contract then you are just acting as a finder and being paid for your services (finding the buyer and seller). Nothing illegal about that.
Quote:
On 2004-01-04 14:49, telemon wrote:
Sounds like you have most of the steps down. If you are going to get an assignable contract then you are just acting as a finder and being paid for your services (finding the buyer and seller). Nothing illegal about that.
Telemon,
I jut made a post that basically asks this same question -- can you give a bit more detail on the difference between brokering and assignment?
http://www.thecreativeinvestor.com/ViewTopic19015-19-0.html
Thanks
[addsig]