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12-12-2009, 12:03 PM #1
Renter
- Join Date
- Dec 2009
- Posts
- 1
FSBO Paperwork
I just got my real estate license and have not found a broker yet. My friend is selling his home on his own and wanted my help in doing the paperwork. I'd charge him a flat fee for this. My question is: Do I need to be under a broker to do this? Can he pay out of his pocket or does the payment have to be shown under escrow? Thanks
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12-14-2009, 05:30 PM #2
Renter
- Join Date
- Feb 2008
- Posts
- 10
FSBO paperwork
This is a very sensitive subject because when you have money exchanging hands you need to be under a broker for all transactions. You can explain to your friend how to properly fill out the paperwork, but cannot fill out the paperwork for him. You can make them aware of how a normal transaction would flow. If you are involved in this transaction, there are many ways the Department of Real Estate can discipline you.
The best thing you can do is find a broker to be listed with and help your friend legally. You might be able to find a broker that doesn't want any money up-front from you, just a cut of your commission once a deal goes through. Finding a broker like that might also benefit you so you can start closing more deals.
Good luck!
A Step Ahead School of Real Estate
asarealtyschool.comLast edited by ASAschool; 12-14-2009 at 05:33 PM.
Real Estate Education & Marketing
http://www.asarealtyschool.com
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12-14-2009, 07:09 PM #3
Mansion
- Join Date
- Nov 2006
- Posts
- 1,232
ASAschool nailed it clearly.
My concern here is you just pass your license and asking trivial questions.
My advice here would be go put your license under a broker and choose one that is offering intensive training. You may need that...
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