In your book you mention this . I have identified a commercial investment which i think meets your criteria. It is located in a small southern Nsw town an consists of 6 retail shops. Asking-$380,000
Please advise procedure to progress this and seek an interested buyer.Before you starting touting for a Spotters Fee please check the laws in NSW regarding acting as a Buyers Agent.
You maybe required to be licensed in a number of ways with it being a breach of the Property Act if you are not. Suggest you contact the OFT in NSW to find out what are you legal requirements.
Cheers Richard
richard at fhog.com.au
http://www.fhog.com.auThere is no such thing as a problem.
Just a solution waiting to be foundRichard Taylor | Australia's leading private lender
There is one way you can do is by nominee where you sign the contract on be half of joe blow. But you must make sure that person will buy the property. So I suggest to include a good clause in the contract.
Warm Regards
ChanDollars
[Keep going, you’re on your way to Frolic Freedom!]dan
Watch out signing “and or nominee” because you may run into a double stamp duty issue.
Either purchase in Pty Ltd Company name and look to sell the shares in the company rather than the property itself. Watch out for the Land Rich Company rule.
Secondly sign up an option rather than a Contract.
Cheers Richard
richard at fhog.com.au
http://www.fhog.com.auThere is no such thing as a problem.
Just a solution waiting to be foundRichard Taylor | Australia's leading private lender
Also if you do a 5 days court for real estate (I have not done it) then you be able to use it as to spot property and on sale to investors.
Warm Regards
ChanDollars
[Keep going, you’re on your way to Frolic Freedom!]Hey danhoban ,
Are you selling property or looking for property? I’m no sure!Julian
THERE IS ALWAYS A BETTER WAY!
Originally posted by Julian:Hey danhoban ,
Are you selling property or looking for property? I’m no sure!Julian
THERE IS ALWAYS A BETTER WAY!
Julian,
I think Danhoban trying to put this deal under his belt, but if he can’t then he is interested in saling it to other as spotter’s fee.Warm Regards
ChanDollars
[Keep going, you’re on your way to Frolic Freedom!]First up, I am surprised that no one has come back asking for the deal!
I think Dan just wants to make a few $ from a deal he has seen. Right Dan?
A couple of ways I can suggest:
One is to sign up the deal in your name with a clause that allows (say) 7 days to find a buyer for the deal. A new contract would then be signed with the new purchaser once found. This is good if you are finding and passing on deals regularly and are confident you can find a buyer within 7 days. Charge a spotters fee for this. I wouldnt worry about all this effort unless you have someone in mind though…
Second is if you know an investor who would like such a deal (or can find one here as you are trying to do) just work it out between you that if they end up doing the deal you will get $xxx or x% of the value in return for the referral, finding the deal. Just as it says in the book. You would probably get the buyer to confirm this in writing, eg an email. Then go for it.
I guess you have to watch out for the buyers agent rules but if its a once off and you’re not making a business out of it, who is going to worry?
Good luck
Could I please remind everyone that this is still advertising and as such is not allowed on teh forum.
Could you imagine what would start to happen if anyone and everyone could post for spotters … blah!
Regards
Leigh K[
]Carve your own path and lead the way.
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