Q: Are sandwich leases legal in VA? Where I act as landlord and rent/sell the property for the owner without a RE license?
If a landlord is having a tough time selling a property or doesn't know how. I want to be able to lease the property for two years and then sell it for the owner. Which is a lease to own. Once the house sells, I would take the profit from the buying price and give the owner what he/she wanted for the property. However I wouldn't be doing any contracts or legal work, the owner and his/her lawyers would do it all and I am a 3rd party getting a cut. Does this require a Real Estate Brokers license? I wouldn't be operating as a business or under any agency.
A: I believe that any real estate representation that is tied to a lease or purchase/sale transaction requires the party acting as the agent to be a licensed realtor. You may want to check with the Northern Virginia Realtors' Association located in Fairfax, VA
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