Can You List An Assignable Contract With MLS?
I have been flipping for a bit and now have enough assignable contracts that I am thinking of listing with a realitor and paying a bonus to the sales person (to motivate sales from other than the exclusive listing agent).
I'm in NC and my research says this is doable. Anybody with opinions, information or examples to help me be sure?
While MLS is solely for RE listings, what you have could certainly be of interest to a savvy RE Agent.
Suggest you ask around and find some long time agent who's knowledgable about notes & contracts and make a deal with that agent.
Lots of commercial, non-residential agents do buy & sell notes & contracts, and have money sources for same...way beyond what the average house-lister has in know-how & experience.
Make some calls to local RE companies in your yellow pages, who advertise that they handle commercial RE and you'll probably find some great sources.
What you have is an equitable interest in the real estate and as such can list them on the MLS.
I am doing it now with preconstruction condos. I will use a FAR/BAR contract to sell them. They are listed in MLS.
I am not a lawyer, but am a broker. My attorney told me that Equitable interests can be sold.
[addsig]
i am real estate broker whereby in numerous occasions being the successfull bidder at a foreclosure auction I assigned my right to the bid by listing it on the MLS....you have to disclose the nature of the deal on the listing that way other brokers/agents accessing the system can tell their prospective clients/customers what's involved before they show the property. Under owner name i listed them as contract vendee.
Good advice. Thanks.
On the deals I have done, they are preconstruction, so when I list it on the MLS, I just list as builder product.
No owner.
[addsig]