Legal Question in Real Estate Law in Arizona
If I am selling my house by owner - are there any legal issues if I advertise to pay a "finder's fee" to anyone who brings a successful buyer? Payment would be made at close of escrow. I'm in Arizona.
1 Answer from Attorneys
You can pay a finders fee to a person who brings you the buyer, however, you must be careful how you advertise the deal and that you have a written acknowledgement with the finder that no fee is earned or payable until his/her buyer closes escrow.
I would strongly recommend that you have a knowledgeable residential real estate person, a licensed agent or an attorney, guide you through the process of selling your home. There is much more to selling your home, than just finding a buyer and not paying a commission to a broker. You have to have a purchase contract, escrow instructions and supervise the process to the close of escrow.
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