You’re helping people of a foreclosure or bankruptcy or landlording mess or just buying FSBO and they are so glad you helped them out by buying, that they want to offer you some type of gift in thanks. So what do you do? We are obviously getting the better end of the deal (most of the time), because we have the plan and analysis and everything setup that way or we wouldn’t buy to begin with. We’ll get plenty compensated from our strategies. But the owner’s feel they need to reward you for the benefit you’re giving them. Are there maybe some legal problems to be aware of? I feel like I’m taking advantage of people if I accept because I know I’m gonna get plenty compensated just a little while down the road after the old owners have moved on. What do you all do when you’re offered gifts?
Tell them you take pleasure in helping people, and that is your ultimate reward, however if they still like to give you something, tell them a testimonial would be appreciated. That way you can show people in similar situations how satisfied they were.
As far as legal issues, no there are not. I assume they have no money to begin with to give you something that would raise flags anyway.
I like fadi’s suggestion about a testimonial… You can always add it to your marketing material.
I would be upfront with them and state that you will be compensated by the work you will do in the house. And you wouldn’t feel comfortable if they gave you a gift. But be carefull because some people may be offended if you reject their gift. If that is the case I would consider taking the gift and thanking them. Another option is maybe to tell them that you would be delighted if they gave it to a charitable organization that you support… They wouldn’t feel you are rejecting them, and you probably wouldn’t feel bad about taking advantage of them… win-win???