Q: Im stuck on not knowing what options i have in regards to this deal, client and buyer want to cut me out of the middle.
I have a client/personal friend under a standard wholesaling contract for his house cause of a situation he finds himself in and needs to sell his house by end of year. First contract we had was for 30k in his pocket, nobody wanted his house for that high, made an addendum to 25k, found a potential buyer, comes and takes a look, afterwards the buyer says he not interested cause he doesnt wanna deal with it. So since it was close to close of escrow i had to cancel the contract to avoid being liable to purchase the house myself. The buyer then calls up THE NEXT DAY saying hed do it for 25k. well me being a wholesaler i go to my client/friend and get him back under contract for 20k. singed and dated by him, read the whole agreement. now this buyer is trying to contact my client directly and cut me out, got a hold of him and now they BOTH wanna cut me out of the middle. I know I can sue for breach if they go through with it. But would I be able to put a lien on in the mean time?
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A: Are you a licensed real estate agent, auctioneer or an attorney? If not you probably cannot enforce whatever agreement you made, and could be charged with crimes. There is no such thing as wholesaling real property so I suspect you do not have a license. You may be lucky to get quantum meruit recovery.
Mr. James Charles Wright agrees with this answer
A: I'm not sure what you mean by a wholesaling contract. If you are not a licensed real estate agent, or meet one of the exceptions requiring a license-
A: I don't know whether you are a licensed real estate broker. if you are not - then I don't believe you can recover any amount.
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