Hello everybody,
I am new to this website and what can i say but wow! It's a fantastic platform to share knowledge and network with other real estate investors.
My question relates to flipping properties for quick cash under exchange of contract/option deeds. My solicitor advises me that there is a fine line between 'selling' real estate and simply introducing buyer to motivated seller and taking an assignment fee (substantially more than a real estate commission!!) for the trouble.
I am an investor and not a real estate agent and as such have no inclination to obtain my license. In the context of advertising and marketing materials, do i need to put a disclaimer or something to that effect to clarify the above? Can i still use the term 'I sell houses'? How can i make sure to hold myself out as an investor and not an agent?
Any advice is greatly appreciated.
Kind Regards,
David Ball
[email protected]Engage an agent, after all it will only cost you a couple of percentage points for the piece of mind that you won't be caught for unlicensed selling of real estate. If you are in the business of selling oops flipping, you should be able to do a deal with an agent.
Hi David
There is a line of legal opinion that goes; if you or any entity, has a legal interest in a property, then you or the entity have the right to sell that interest.
There are lawyers in each state of Australia that specialise in this area of property law and, depending what state you're in, I'm sure there are people on this forum that can direct you to the approriate solicitor. Good luck.
Cheers, Paul
Paul Dobson | Vendor Finance Institute
http://www.vendorfinanceinstitute.com.au
Email Me | Phone MeAn alternative way to finance your home.
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