Legal Question in Real Estate Law in Utah
Arranging relationships.
Hello,
I recently have put forth effort to begin a business which pairs real estate investors, particularly those investing into fixer-uppers and short sale properties, with construction contractors. The process of pairing one with the other is strictly internet-based via a website.
Real esate investors are able to list what type of work they need done on the properties they invest in and Construction Contractors are able to bid on those projects, allowing the investors to select whichever bid they choose (usually the lowest) and allowing the contractors to grow their business and gain clients.
This is a national website, non state specific. I do not participate in the sale of real estate property, nor do I in any way give advice to any clients; all communication occurs between the investors and the contractors; my website simply pairs the two.
A business friend encouraged me to seek legal advice to determine if what I'm doing is legal. He believes I may be acting as a broker, however, I do not believe I am acting as such. I simply create the relationship between investor and construction contractor. Is what I'm doing illegal?
Please advise. Thank you very
much.
1 Answer from Attorneys
Arranging relationships.
Based on what you stated, it does not appear that you are violating any Utah laws, however, you should speak with an attorney so all information is available to the attorney to give an opinion. This is not such an opinion, but only a general answer, which is not sufficient to rely on for your purposes.
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