Structuring An Assigned Contract
I have a deal i am working on, and already have a buyer and we are in
agreement on everything........the only problem is we cant agree on how
i can claim my fee.....well my buyer and I agree but my lawyer tells me
otherwise, but he offers me no solution how to structure the contract.
Now, i am selling a commercial peice of real estate, and in order to
claim my fee, i am actaully named directly in the contract as an
independent contractor and we wrote in my fee. Basically i am named in
the contract as a third party, and my fee is fully disclosed, but from
what my lawyer says i cant do this because even though i am not legally
a realtor, i am acting like one, and because i am not licenced, i can
not do this. I do not know if this is true, or if it is, if it only
pertains to residential real estate and does not apply to this deal
since it is a commercial piece. Anyone have any experience with
something like this?
Have not done one of these, but everywhere I have looked indicates that as long as the contract inidicates in the "Buyers Name" the wording "and/or assigns"
i.e. Buyer: Jane Smith and/or assigns... I thought this was sufficient to go and quick-flip the property to another buyer/investor?... Knowing a Title Company that can handle double closings should be able to do this with no problem...
I say Buyer SHOW ME THE MONEY
Charles E.