Lease Option Fee

I signed an Lease Option with Seller and assigned it to my buyer for a fee. My Lease Option with Seller mentioned price, rent and stated that I plan to assign it ; seller has the right to approve new buyer. The new buyer signed and Lease Option with seller. Seller was happy and asked me to find similar Lease Option tenant buyers for 2 more properties; they gave me a good testimonial.



After a year their attorney send me a letter asking me to return all the fee I received from my buyer! His letter mentions that my Lease Option with Seller does not mention what "fee" I should get and if this goes to court at best I would get 1 month rent as fee

[ Edited by SKrei on Date 12/01/2010 ]

Comments(12)

  • LeaseOptionKing1st December, 2010

    You did this entire transaction completely wrong from start to finish. May I ask how much of fee you received frrom the T/B?
    [addsig]

  • SKrei2nd December, 2010

    Got $5000 from tenant buyer; gave $1500 to seller

  • jfmlv19505th January, 2011

    Try http://www.propbot.com or go to your "My PropBot" page and press "My Properties"

    John (LV)[ Edited by joel on Date 05/18/2012 ]

  • bargain765th January, 2011

    Craigslist works, too and is also free.
    [addsig]

  • jfmlv19506th January, 2011

    When you log on there is a button on the top left of the page that says "My PropBot".

    Click on that an you will get to your profile. Then click
    "My Properties".

    John (LV)[ Edited by joel on Date 05/18/2012 ]

  • real_estate_now13th February, 2011

    this forum (propbot)
    craigslist
    backpage
    ebayclassifieds
    hotpads
    postlets
    facebook
    twitter
    [ Edited by real_estate_now on Date 02/13/2011 ]

  • fixerflipper27th February, 2011

    www.owners.com will let you post for free with one pic.

  • RealnetTampaBay12th May, 2011

    This is a great list! Thanks for posting them!!
    [addsig]

  • joemacam27th February, 2012

    I would give a short yet effective strategy, engage your self in social media marketing since they are easy to use and free.

    _________________
    [ Edited by joel on Date 02/28/2012 ]

  • Smriti18th May, 2012

    For Online Marketing there are several online websites like classifieds, social media web pages where you can easily promote your properties. The list is already shared by one of the member.


    _________________


    [ Edited by Smriti on Date 05/18/2012 ]

  • joel18th May, 2012

    Here is the link to start listing your property for free:
    http://www.propbot.com/modules.php?name=Properties&file=add

  • joemacam4th June, 2012

    You can submit your property into local business directories and choose the appropriate category. Some of the forumers here, already give ideas that you can consider including this forum site of course.
    [addsig]

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