Opinion On Phrase In Birddog Contract
I have agreed to pay a bird dog $500 for any referral I end up purchasing. The contract from him has the following phrase:
The Investor will purchase information from the Independent Contractor for a $500 flat fee, with a minimum of $250 per transaction, which will be due upon purchase or acquisition otherwise of contracted properties that meet Investors criteria.
I'm not sure what the $250 is suppose to mean. Is this language close enough to what I want the agreement to be, $500 for every referral I end up purchasing?
my two cents
if the birddog got you a deal and your making a good profit give the the birddog his $500. the bird dog will be more willing to bust his/her hump to bring you deals because you paid them well.
amy newbie[ Edited by amynewbie on Date 10/04/2003 ]
If it's a flat $500, I'm not sure why a $250 minimum is in there either.
I'd just ask the birddog to explain it to you. If you don't like the answer, either adjust it to suit both of your needs or find another birddog.
Roger
Could be that your birddog used a "form" contract from a book and just left everything as-is. I agree, discuss it with your birddog.
Yeah, that has to be a butchered contract. Was probably a percentage or $250 minimum and he changed the percentage to a flat fee.
Yet another instance where someone (the birddogger) should have had his contracts at least REVIEWED by a real estate attorney.
I know they cost $, but once you have some $ from 1 or 2 finds, spend the money and get ALL of your legal docs reviewed and approved for use in your state, and if necessary, county.