I would appreciate anyone that could help me out with this dilemma.
Here it is....
I spoke with a guy yesterday that desperately needs to sell his home.He's tried Agents/Realtors, but with no luck. The house has been on the MLS for well over a year. He lives in a Luxury Home, the appraised value is $2.5 Million. He recently had it appraised and was able to prove it. It sits on 6.75 acres of land, a lake, pool, spa/jacuzzi and a lot more luxurious ammenities. But...I was able to talk him into $1.85 Million.
He made me an offer. He says, if I'm able to find a buyer, he'll pay me $200,000 himself. That's on top of whatever I make from the assignment. He also says that if I can just refer someone to him who purchases it without locking it up, he'll still pay me the $200,000. That's an offer I couldn't refuse. This would be my first deal, so picture making that sort of money on my first deal.
Now, here's the part where I need help. I feel sort of idiotic for having this issue, but as I look at the forms, I realize that I don't know how to fill them out. I've read the books countless times over the months, but can't figure out the "Agreement" to purchase form. I'm having problems where it asks about the title company, because I don't have a title company. The numbers part of it is also confusing me. Better yet, mostly all of it is confusing me.
If someone could walk me through the process, I would greatly appreciate it. OR...is there a way that I can leave the contract out of it and write up an agreement that he'll pay me for the referral after it's sold?