OfflineI need help with Promissory Note ..I have read in Forums I need Promissory Note as well as Non-Disclosure and Confidentiality form to get paid for finders fee..I have deal going on but becuase of the situation I can only do finders fee ..
I have motivated buyer(not investor) I am helping buying a condo. since it is bank owned property and the buyer has FHA loan I am not able to do assigment or resell...so was looking do the deal with finders fee and I will get paid as soon as the buyer close..
does any one have Promissory Note I can use ...
Thank you all for your help
__________________
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Finder’s Fee Agreement
Date:_____________________ at__________________________, (Enter State)
In consideration of services to be rendered by ____________________ (Finder), and _______________________________________________(Client) hereby employs Finder to refer to Client a prospective:
[]Single Family Home, [] Rental Units, []Land , []Commercial,
[]buyer owner,[] borrower tenant Other___________
1. Finder agrees not to participate in or conduct any negotiations with propects, or solicit loans on behalf of prospects. Finder is/is not licensed by the (Enter State) Department of Real Estate.
2. Finder hereby delivers to Client the name and identity of the following prospect:
Name_________________________________________________________
Address_______________________________________________________
Telephone_____________________________________________________
Client is:
Single Family Home ,[]Rental Units, []Land , Commercial
, []buyer owner , []borrower tenant , Other___________
3. Finder hereby delivers to Client particulars concerning a real estate parcel that Client might want:
Address: ________________________________________________________
________________________________________________________________
Legal Description: _________________________________________________
________________________________________________________________
Other: ___________________________________________________________
Compensation:
1. As compensation for Finder’s referral, Client agrees to pay Finder as follows:
[][ $ ___________
[] _____________% of the net profit upon sale.
[] _____________% of the net equity upon purchase.
[] Other:___________________________________ ___________________
1. Finder’s compensation is payable as follows:
[] Upon the closing and sale of the transaction involving the above-cited real property (#3), or upon the closing of the first transaction involving the above-cited prospect (#2).
[] Other: ________________________________________________________
_______________________________________________________________
2. Should the prospect or the property not result in a transaction involving Client within ______months of the date of this agreement, Client shall owe Finder no compensation.
3. Additional terms and conditions: __________________________________________________________
__________________________________________________________
__________________________________________________________
__________________________________________________________
Understood and Agreed:
Finder:____________________________________ Date ________________
Client:_____________________________________ Date ________________
"Open minds backed by knowledge, wisdom, persistence, and determination equals unstoppable excellence"
- wrecklessKane
thank you so much !!! sorry for late response