Second Land/Home-Finders Fees - Posted by Cindy-OR

Real Estate Investing Real Estate Financing
#1

Posted by Ruben (KCKS) on June 19, 2007 at 11:00:49:

Cindy,

Congrats on your deal. I do Lonnie deals so I pay a flat fee. I did work in Califonia bird dogging forclosures and that is how I was paid there as well. I have not purchased a LH yet but I think I would be inclined to pay a flat fee as well unless the person referring the deal did a lot more then just point me in the right direction. If the referring person negotiated the deal or did a whole bunch of due dillegence I would not be opposed to increasing my finders fee.

Whatever you do make it fair for him/her and you. Come up with a number and ask them if they think it is fair. The important part is that both of you are happy with the fee and continue to do business in the future. Whatever you decide good luck.

Ruben D. Flores

816 918-9041

#2

Second Land/Home-Finders Fees - Posted by Cindy-OR

Posted by Cindy-OR on June 19, 2007 at 09:38:30:

I’m closing on my second LH Deal. A finder told me about it. He’s new, like me and we are trying to arrive at a price.

Do you pay a flat fee or a percentage of one of your figures ie. purchase price, projected profit etc.?

Thanks!!

#3

Re: Second Land/Home-Finders Fees - Posted by Sailor

Posted by Sailor on June 20, 2007 at 06:08:25:

I would pay a flat fee, but in the future you need to negotiate that PRIOR to doing the deal. I know it is hard to discuss $$$, but this is our job. You may have to compromise on this one for the sake of future goodwill, but both of you had a responsibility to spell this out in advance.

Some things we just have to learn the hard way, & this won’t be the last time. I find it still happens to me every day.

Tye