My question involves real estate located in the State of: AZ
Ok so here we go. Below is the overall points of interest, an example and some questions.
Someone has an investor that would like to purchase real estate in AZ. The investor is looking to purchase one house at a time but would like to purchase numerous homes after with the person facilitating the deal.
The person facilitationg the deal (middleman) would like to be compensated on the front end for setting up the transactions (ie. after all terms of the purchase are satisfactory and payment is sent). They would ideally like to set it up where they are essentially the middleman.
The investor does not care how much the middleman makes on a certain deal as long as they are content with their purchase price, however they also do not want to know how much the middleman is making in the process (also the middleman would prefer the investor not know either)
Below is an example situation.
There is a home that can be purchased from a bank for $100k the only person who knows this is the bank and the middleman. The investor says he will pay $110k.
What the middleman would like is that the he gets the 110k from the investor (maybe some sort of trust account is used????), then the middleman has the title delivered to the investor upon the bank receiving the money for the pay off of the title. The middleman does not want to put out money to get the transaction complete.
What disclosure would apply to someone in the position of the middleman?
What is the best way to facilitate this transaction?
The middleman would like to set it up so that he can use this as a template for all the future transactions as well. I guess the part that makes it tricky is the fact that the middleman does not want to put up money and that they would like to have it unknown as far as the compensation....that way the investor does not have a worth of what the individual is worth to them. The investor only cares that he is getting the deal they want.
Thanks in advance for any insight and help.