Brokering Contract - How does this work?? - Posted by Valerie

import · August 30, 2003, 6:00pm

Posted by Randy on September 01, 2003 at 13:37:16:

It?s accomplished with a purchase agreement to purchase the note and assign the purchase for an assignment fee, or a separate sales agreement containing something like;
NOW THEREFORE, for and in consideration of the value to be paid, mutual benefits derived, the Seller agrees to grant PURCHASER and /or Assigns the exclusive right to purchase the note and security instrument, and the parties hereto agree as follows:

import · August 30, 2003, 6:00pm

Posted by Valerie on August 30, 2003 at 18:00:36:

I have been reading every book, web site and other materials that I can get my hands on for months. For some reason, the answers to these questions still evade me. My main interest is pure brokering at this point.

Is there a contract whereby the seller agrees that I, the broker, am allowed to offer their note for sale to the buyer?
What exactly prevents the buyer from circumventing me, the broker, and going directly to the seller for their note (i.e., do I have a contract with the buyer as well)?
I gather that the broker’s spread is paid by the funds provided by the buyer at closing? But what document is it that says “the difference should be sent to the broker”?

Please let me know if you have any suggested reading that goes into these details of brokering in depth.

Thanks,

– Valerie