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Author Topic: Non-circumvent / Fee Agreement For Property Locator  (Read 16072 times)

Offline debbie19145

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Non-circumvent / Fee Agreement For Property Locator
« on: February 29, 2008, 03:12:46 pm »
Hello Everyone, :biggrin

Here's my story and I'm sticking to it......... :deal

Iam new to real estate and basically I'm learning this business from ground zero. Iam  interested in wholesaling which includes being a property locator. I have read the various posts in this forums and other online resouces. After reading most of the topic information. It is highly recommend to have in place a "non-circumvent /  fee ageement in place prior to doing business if I intend on getting paid for services provided. Having the understanding that I will only be paid my asking fee when and  if it results in settlement.

My sticking point is how to structure my terms/ conditions correclty

Here are a few points that I have listed.

WHEREAS,  Client A (investor) and Client B(myself-property locator) collectively have concluded a confidentiality agreement and wish to conduct business concering the above property located at 123 main street.

NOWTHEREFORE,  in consideration of the mutual promises herein exchanged both parties (Client A- investor and Client B Myself) agree to client and customer referrals, non-circumvention and non-solicitation in accordance with the terms and conditions set forth herein.

1. Confidential information.  The content of the confidentially agreement is hereby incorporated by reference

2 Definitions

  (a) An "Introducing Party" is  party who, with the prior consent of the other party, introduces, by means of verbal, written or in-person communication wth reference to business matters, the other party to a client or customer with whom the receiving party had no business contact prior to the introduction.

(b) A "Receiving Party" is a party who, by its prior consent, accepts an introduction to a client or customer by the introducing party.

3  Referrals of Clients. The Receiving party(investor) shall pay the agreed  fee of 10% to the introducing party(property locator) upon settlement of the above mentioned property located at 123 main st.

4. Here is where the water gets rough.... how do I incorporate the assignment of the title over to the investor. Iam not interested in owning the property.

5. I'm sure that there is more.....please :help

6. Any other conditions or key points that I have left unaddressed please feel free to post your through process and or comments.

                                           THANK YOU IN ADVANCE!



 




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