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.
- Confidential information. The content of the confidentially agreement is hereby incorporated by reference
(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.
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.
I’m sure that there is more…please :help
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!