Real Estate Law
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Good evening Christina, I'm Doug, and I'm sorry to hear of the confusion. My goal is to provide you with excellent service today. There is nothing wrong with proposing an upfront payment and a payment due at sale or when a property is taken off the market. Section 8 of RESPA prohibits anyone from giving or accepting a fee, kickback or anything of value in exchange for referrals of settlement service business involving a federally related mortgage loan. In addition, RESPA prohibits fee splitting and receiving unearned fees for services not actually performed. As your fee is not specifically coming from any fee charged for the settlement of a mortgage loan, but is a fee related to services provided to a Realtor or Investor, there is no prohibition under the law with regard to what you are wanting to do. As you get paid when the property sells, or when it is removed from the market--it is not a true contingency fee---it is just a delayed final payment contingent on the happening of a specific occurrence. I see no problems with offering your services to owner/sellers, realtors or anyone else for that matter---so long as you do not take the calls relating to the sale of the properties. You may only provide the advertisement/video services. A local business law attorney would probably draft a general contract for you to use for a couple of thousand dollars, and it could be put together within a matter of a few days. Please keep in mind that, even though you have already paid your deposit money over to JustAnswer, until you rate me highly for my service, I will not be paid for having assisted you with your questions. If you have additional questions, you may of course reply back to me and I will be happy to continue to assist you further until your questions have been answered to your satisfaction. I wish you the best in your future. Doug
Good evening Christina, You asked: What benefits would l be getting by having an attorney draft my contract versus using a service like rocket lawyer? Quite simply, your contract requirements are not well suited to a general contract such as might be available through a low cost/free form provider. You stand to lose more in two transactions gone bad than what you would pay for an attorney to customize a contract for you that will be enforceable in court. Sped the money on a real attorney to draft this for you. You can always write it off, and you will know that a lawyer drafted it just for you. Thank you for your kind words. They are appreciated. Please keep in mind that even though you have already paid your deposit money over to JustAnswer, until you rate me highly for my service, I will not be paid for having assisted you with your questions. Thanks again. Have a great day, Doug
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