Posted by James (FL) on July 18, 2003 at 14:14:13:
I am a lender for this person. Therefor they are my client. I am trying to point them in the right direction as to what sort of home they should be looking for. I will get no compensation for the sale of the home, therefor I am violating no laws. My compensation comes by me lending them the money to purchase a home. I do not get involved with the contracts etc. I simply find a home I think that might fit into their scenario, and them send them to negotiate, along with what I have them approved for. That is why I locate for sale by owner homes, because there are no realtors involved. The last time I checked, it was not illegal to refer a friend to someone who was selling their home, nor is it illegal to act as a lender for a friend, therefor making them your client from a professional lender standpoint.
please let me know if I am mistaken here.
thank you for the LEGAL reply to my otherwise very simple question. =)