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Author Topic: Is it Legal to adv a property you don't control yet?  (Read 3017 times)

Offline GenerateCashflow

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Is it Legal to adv a property you don't control yet?
« on: January 26, 2007, 09:41:01 pm »
Does anybody know this answer?

If you see a property you are interested in that is for sale and you vaguely advertise it looking for a tenate or a buyer is this legal?

Offline TMCG

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Re:Is it Legal to adv a property you don't control yet?
« Reply #1 on: January 26, 2007, 10:03:46 pm »
if you don't contract to buy it, then do that, yes that is illegal....definitely in New York.

in order to negotiate a sale of real property (that you don't own) - you need a license - broker license and a sales agent must have a license and work for a broker.

you also have to be very careful about marketing houses - you have to watch what you say in the ad - fair and equal housing laws.

there's all different laws and they have rules for ads.

now if you try wholesaling, then you own a contract to purchase the property, then you can market it to assign the contract to a buyer - you don't need a license for this.

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Offline GenerateCashflow

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Re:Is it Legal to adv a property you don't control yet?
« Reply #2 on: January 26, 2007, 10:08:57 pm »
Is it the same if you are advertising to find a renter?
Thanks

Offline PaulBroni

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Re:Is it Legal to adv a property you don't control yet?
« Reply #3 on: January 29, 2007, 05:56:59 am »
No one can stop you from running an ad to locate tenants, but obviously you can't mention the specific address anywhere or actually make appointments to show it. Seems like a potential waste of money to me.

Why would you want to do that? To see what the rental market is for a property? To see for how much it should rent and how quickly?

If that's the goal, I think there are other ways to do that.
"To have something you have never had, you must do something you have never done."
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Offline GenerateCashflow

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Re:Is it Legal to adv a property you don't control yet?
« Reply #4 on: January 29, 2007, 06:06:26 am »
Hi thank you for the response.

Advertise the house before you buy to have a list of renters lined up so that you don't have any holding time.

Offline ericmedem

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Re:Is it Legal to adv a property you don't control yet?
« Reply #5 on: January 29, 2007, 12:56:58 pm »
You can advertise anything that you would like. You dont even necessarily have to have it in you inventory. Sure you cant advertise a specific property but you could advertise for whatever you want and if you dont want to deal with the people then say it has already sold or already rented. It would be dumb for anyone to check you out further after being told that.  I put for rent signs all over on homes that arent for rent to get peoples to call so that I can put them in other homes of mine.

Eric Medemar
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Offline GenerateCashflow

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Re:Is it Legal to adv a property you don't control yet?
« Reply #6 on: January 29, 2007, 01:23:12 pm »
Thanks Eric!

 




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