Anybody know the rules for referral fees??? - Posted by DanM(OR)

Real Estate Investing Real Estate Financing
1

Posted by Eduardo (OR) on April 04, 2000 at 18:33:14:

Dan–
Not quite sure what you’re asking, but if real estate sales are involved then you want to talk to the Oregon Real Estate Division for sure. --Eduardo

2

Anybody know the rules for referral fees??? - Posted by DanM(OR)

Posted by DanM(OR) on April 03, 2000 at 11:53:34:

Friends & Family,

I posted this the other day on the cashflow forum with no takers and thought it was equally applicable here.

It would also apply when we are buying/selling homes. How about paying referral fees then?

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John, Michael, and other Note Pros:

I spoke to the Department of Finance about buying & selling notes in Oregon, where I am. Everything seems to be straight forward there. No license requirments or anything.

I asked the lady about paying referral fees to homeowners, realtors, title people, etc. She said that there weren’t any State Laws against “kickbacks” and “referral fees”. However, she said, “where we might get into trouble is with RESPA”. I went on the Net and checked out the Real Estate Settlement Procedures Act here:

www.hud.gov/fha/sfh/res/resp2607.html

It seems to me that it only applies to Federal Related Mortgages. Am I reading this correctly? If that’s true, then seller financing would be exempt from this regulation. Right?

Thanks for you help!

Dan Matejsek