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Thread: Real Estate: How much should I pay him?

  1. #1
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    Default Real Estate: How much should I pay him?

    There is an off-chance I might be buying a small investment property and I am trying to figure out how much I should pay the guy who facilitated the deal for me. I should mention that if it works out, it would be a very good deal in my favour.

    The services he has rendered me are as follows;

    He brought the property to my attention before it went on the open market and anyone else knew about it.

    He has given me solid advice about the property´s real market value, what I might get if I resold it, and what I would have to do to resell it.

    He has lined me up with, and translates on my behalf with, a very honest and competent lawyer (the first I´ve met in Jinotepe!) who has given me good, objective advice and who has handled the paperwork spotlessly (according to another unrelated lawyer from a different city I hired to double-check his work).

    He showed me the property several times and explained its key features.

    I´ve asked my friend several times how much he wants for doing this and he refuses to give me a figure, instead he tells me I should pay him what he thinks is fair.

    Any feedback would be greatly appreciated.

  2. #2

    Default Re: Real Estate: How much should I pay him?

    Quote Originally Posted by Mikeh View Post
    There is an off-chance I might be buying a small investment property and I am trying to figure out how much I should pay the guy who facilitated the deal for me. I should mention that if it works out, it would be a very good deal in my favour.

    The services he has rendered me are as follows;

    He brought the property to my attention before it went on the open market and anyone else knew about it.

    He has given me solid advice about the property´s real market value, what I might get if I resold it, and what I would have to do to resell it.

    He has lined me up with, and translates on my behalf with, a very honest and competent lawyer (the first I´ve met in Jinotepe!) who has given me good, objective advice and who has handled the paperwork spotlessly (according to another unrelated lawyer from a different city I hired to double-check his work).

    He showed me the property several times and explained its key features.

    I´ve asked my friend several times how much he wants for doing this and he refuses to give me a figure, instead he tells me I should pay him what he thinks is fair.

    Any feedback would be greatly appreciated.
    Might pay him 2 months his salary or 5% of the cost of the property, just a thought anyway, or make him a deal that when the property sells you give him a % of the money earned.

  3. #3
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    Default Re: Real Estate: How much should I pay him?

    Quote Originally Posted by tresfrijoles View Post
    Might pay him 2 months his salary or 5% of the cost of the property, just a thought anyway, or make him a deal that when the property sells you give him a % of the money earned.
    Interesting. maybe I´m pinche but 5% seems high, that´s what I would pay a real estate broker to sell my property for me. Any thoghts?

  4. #4
    House SOB Little Corn Tom's Avatar
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    Default Re: Real Estate: How much should I pay him?

    Considering all he did.... 5% sounds fair to me...especially the part about showing it to you before it went on the open market.
    Life's different here ... It's a whole 'nother pace.

  5. #5
    Dog Whisperer cookshow's Avatar
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    Default Re: Real Estate: How much should I pay him?

    A kick in the as for getting you mixed up in it might be more appropriate.
    ‎"You know what you say when people tell you you can't do something? Fool, shut your mouth up!"
    Ernie K Doe

  6. #6
    House SOB Little Corn Tom's Avatar
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    Default Re: Real Estate: How much should I pay him?

    I will defer to my in country and experienced colleague.
    Life's different here ... It's a whole 'nother pace.

  7. #7

    Default Re: Real Estate: How much should I pay him?

    Do what feels right in your heart..... If you underpay him, he might never look for great deals for you in the future. If you feel that he did a great job for you and you will benefit with a big payoff after selling the property, then give him what he deserves..... I agree with 3F about the 5%, this might be the begining of a great business relationship....

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