LIABILITY?

General Real Estate Investing
1

In a l/o deal where I bring someone who wants to lease to a home owner, and charge and collect the option fee, along with receiving monthly rents and sending the owner the amount he and I agreed upon, what happens if the renter loses his job and defaults. Am I still liable for the payments since the agreement was between me and the owner? Or maybe, I have this all screwed up. Please advise!

2

Hi,

 You are responsible for the payment since you are the A - B transaction!

           GR
3

Thanks! That can get a little sticky with evictions, etc. So, how do you do the deal where you just bring the renter and charge a fee?

4

get your broker’s license or assign your option

5

Thanks!