Posted by Sean on May 24, 2007 at 22:51:47:
Well Dave, it is illegal to sell property for compensation without a salesperson license or broker’s license. You will find yourself in a very uncomfortable and expensive situation. It doesn’t matter how you word the contract. If he is willing to pay 3%, why wont he be willing to pay a broker who brings him a buyer? Where are these located? I am in the south suburbs of Chicago.
Need Help ASAP on Chicago Apartment Complexes - Posted by Dave
Posted by Dave on May 17, 2007 at 01:03:09:
Well, I am doing Residential properties now wholesaling, rehabb,sub 2 ect
And I received a Phone from a friend who’s best friend has
3 Apartment Complexes(these are not on The MLS) I have first crack in selling them.
143 units
56 units
84 units
The owner wants to move fast,let me add
I AM NOT A REAL ESTATE BROKER NOR A MORTGAGE BROKER
THE OWNER WON’T LIST THE PROPERTY AND DOESN’T WANT ANY REALTOR INVOVLED AT ALL…
HE WILL PAY 3% IF YOU BRING HIM A BUYER
HE WOULD ONLY LET YOU PUT A CONTRACT ON THE PROPERTY IF YOU PUT IN THERE SOMEWHER THAT IF A BUYER DOES COME THROUGH ANOTHER PERSON, THAT YOUR CONTRACT IS NULL AND VOILD…
I HAVE ALL THE RENT ROLLS AND INFO ON THE PROPERTIES, IS THERE SOME THING THAT I COULD USE LIKE THE REAL ESTATE BROKER USES EXCEPT SAY THAT I AM AN CONSULTANT
ANY HELP WOULD BE A GOD SEND AND IF I CAN GET ANY OF THESE DONE WOULD GLADLY TAKE CARE OF.
ACTUALLY I KNOW THAT 2 OF THE COMPLEXES BLEW UP AT THE CLOSING TABLE NOT BECAUSE OF THE PRICE BUT IT WAS ON THE BUYERS SIDe
So that tells me that these Properties are not Over priced and again only 4 people know about this, and I need to if not put a contract which contract, it really won’t hold up since he wants to be able if another buyer comes in to sell to that buyer
ANY help again I need it like yesterday
Dave