Posted by Michael Morrongiello on November 19, 2008 at 19:15:53:
In Reply to: Being the middle man. posted by Paul on November 18, 2008 at 18:22:42:
Paul:
We (at Sunvest) have worked with Note brokers, Note finders, etc. for over 25 years as a funder, master broker, and counselor.If you want to look to the note seller to pay you then you will have to DISCLOSE your fee or compensation to that party authorizing it. Most brokers do not like that way of doing business...
However if you work with a competent FUNDING SOURCE - they will protect you and issue to you a fee agreement in writing.
There is no reason under this arrangement for a disclosure of your fee to the Note seller since the payment of your fee is coming from the Note Funding Source.
Legitimate ethical Note funding sources do not go around brokers and try to cut them out. Its bad business. Its also bad Karma... While it certainly can and does happen - if you work with good people who are on your team you must have some trust in their abilities.
As for bringing suit, or enforcement of a commission not paid - In our litigious society today ANYONE can sue ANYONE for ANYTHING. Its usually the attorneys who end up winning.
Bottom line- work like a pro and with a Pro
Best to your success;
Michael Morrongiello
Since 1983 - Creative People with Creative Solutions
www.sunvestinc.com