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Real Estate Investing Forums | Real Estate Investing | Bird Dogs, Wholesaling, Flipping Properties Forum (Moderators: $Cash$, Bluemoon06, kdhastedt, Mdhaas, motivatedceo) | Topic: Bird-Dogging Contract; Assignment Contract; Finder's Contract « previous next »
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Author Topic: Bird-Dogging Contract; Assignment Contract; Finder's Contract  (Read 3347 times)
sxseven
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« on: September 25, 2006, 03:21:50 PM »

Does ANYONE know where I can find a contract for a Bird-Dogger - a contract that is given to the Investor in regards to the finder's / assignment fee? If anyone can help - please email me or respond to post.

Thanks Everyone!
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wasj
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« Reply #1 on: September 26, 2006, 08:13:09 PM »

it is called a listing agreement  and requires agency or a buyer's rep also agency.  otherwise you must be a party to the sale contract in order to receive compensation in most states.
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blueboxer
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« Reply #2 on: September 28, 2006, 03:26:43 PM »

Here ya go

http://www.foreclosureforum.com/forms/14FindersFeeAgreement.pdf
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sxseven
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« Reply #3 on: September 28, 2006, 03:51:39 PM »

THANK YOU!!! It's exactly what I was looking for!!  Grin
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gatorgirl
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« Reply #4 on: October 22, 2006, 10:32:53 AM »

How can I get the finder's fee paid at closing?  I am using a HML for a rehab deal that has some really sweet numbers (45% ARV).  Since there is so much "wiggle room"  I would like the finder's fee for the person who found this deal for me to be paid at closing.  How do we do this?  

Do we enter it as an item that the seller pays, then renegotiate the sales price to cover it?  Or will the HML allow this fee on the settlement statement for buyer's costs?  Would it need to be referred to something different than a finders fee?  Does a title company have the right to refuse to include this in the settlement statement?
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Grifin Scott Properties, LLC
www.griffinscottproperties.com
sircaesar
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« Reply #5 on: October 22, 2006, 02:20:03 PM »

Hey guys I don't know where your all located, but I wholesale/birddog properties in Atlanta, Ga I have currently 50 deals on the table..
I have equity spreads ranging from 20k all the way up to 100k+,
I have deals that have 0 (ZERO REHAB COST-READY TO FLIP OR RENT)
I have major rehab deals with 20k in repair. but 100k in equity..
« Last Edit: October 23, 2006, 08:40:31 AM by kdhastedt » Report to moderator   Logged
sircaesar
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« Reply #6 on: October 22, 2006, 02:41:10 PM »

Sxeven&Gatorgirl the way I understand it, their are a couple of different ways to do the assignment.

Sxeven, I don't know about cali state laws regarding birddogging, however  to my knowledge you don't need a birddog contract in order  for the property to be assigned to your end-buyer..the original contract your birddogger makes with the seller automatically includes him or her in the sales agreement hence you have satisfied the Cali State law for being inolved in the purchase to recieve compensation,

the purchase agreement should be assignable.. meaning it should have a clause the "buyer(birddogger) and or assigns." this is what makes the contract assignable..

assignment contracts are used when the wholesaler assigns the property to another investor that wants to reassign to and end buyer.hence this is called a Double-Assignment

I may be wrong on this method,  as i have heard different things ,The other way for the transaction to work, is to have the buyer and seller close the deal on their own, and you put a lien against the property securing  for your assignment fee..  naturally this is the most riskiest.. I would check with  some of the guru's ryan webber or eric  who frequent the board..to be sure..


Gatorgirl the birddogger or wholesalers fee is called an assignment fee put on the buyer closing section of the hud-1
Your title company should be able to instruct you on how the whole thing works, if they don't know, your dealing with the wrong title company.." and you need to find one that is familiar with assignments and double closings.
« Last Edit: October 22, 2006, 02:46:54 PM by sircaesar » Report to moderator   Logged
shonleon
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« Reply #7 on: October 23, 2006, 11:24:36 PM »

I just ordered mine at uslegalforms.com or legalforms.com. One of

the two. Good Luck.

Steve
« Last Edit: October 24, 2006, 08:07:16 AM by kdhastedt » Report to moderator   Logged
Allen Properties
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« Reply #8 on: October 31, 2006, 10:10:49 AM »

I live in NC and my deals will be here. Unfortunately, the pdf link above I can't edit. Any help?
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Paul Allen
Allen Properties LLC
sxseven
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« Reply #9 on: November 03, 2006, 02:24:20 AM »

I live in NC and my deals will be here. Unfortunately, the pdf link above I can't edit. Any help?

Just rewrite it in Word or a Word-type program.
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veteranbirddog
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« Reply #10 on: November 04, 2006, 11:51:42 AM »

I can send you some contracts.Just e-mail me and I will help you out.
Some people helped me out when I first got started so now it's my turn to put the info out there.
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royallaw
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« Reply #11 on: November 08, 2006, 08:03:34 AM »

I have a list of some REO's with equity spreads ranging from $50k to $200k. I dont want to put the ptoperty under contract, i just want to provide the info and get paid.

On one of the propertys has 60k in equity and I am asking for $5k up front(non refundable deposit) and $5k at closing. I am working with a realtor who has investors who are interested but says noone will pay that much for a property they have not seen.

I can understand that but I dont want to provide the address, the investor looks at it, tells me they are not interested and then goes behind my back to buy it. How can I prevent this?
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xburbx
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« Reply #12 on: November 08, 2006, 08:44:27 AM »

nondisclosure contract.  it prevents your situation from happening.
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Angel2rise
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« Reply #13 on: November 13, 2006, 04:10:24 PM »

how do I find a Non-Disclosure Contract?
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TonyDiCorpo
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« Reply #14 on: November 13, 2006, 04:49:34 PM »

I have a list of some REO's with equity spreads ranging from $50k to $200k. I dont want to put the ptoperty under contract, i just want to provide the info and get paid.

On one of the propertys has 60k in equity and I am asking for $5k up front(non refundable deposit) and $5k at closing. I am working with a realtor who has investors who are interested but says noone will pay that much for a property they have not seen.

I can understand that but I dont want to provide the address, the investor looks at it, tells me they are not interested and then goes behind my back to buy it. How can I prevent this?

you had better put those properties under contract, meet your potential investor(s) there and show them the place or send them to have a look, and if they want it, assign the contract for your fee.  

you have to put the property under contract so nobody else does.  that way u can send folks there and not worry about them cutting you out of the deal.
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Peace Ya'll!
Tony
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Real Estate Investing Forums | Real Estate Investing | Bird Dogs, Wholesaling, Flipping Properties Forum (Moderators: $Cash$, Bluemoon06, kdhastedt, Mdhaas, motivatedceo) | Topic: Bird-Dogging Contract; Assignment Contract; Finder's Contract « previous next »
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