Consultant Without Contract

[BizPerson]

What is the name of your state? Colorado

I have known, and done business with, a real estate developer for twenty five years. Four years ago he asked me to consult on a hotel project in Vail, CO. I do NOT have a real estate license. As a consultant, my task was to locate a property and negotiate the purchase. The purchase of property was for purposes of redevelopment into a five-star hotel. The developer and I did our deal on a handshake. The developer was purchasing the property for his own account, not on behalf of someone else.

I located the property and became the sole negotiator and direct contact with the Seller. After four years of negotiating, renegotiating, etc. with the Seller, we finally had a closing on the property. I was to be paid a minimum of $250,000 and a maximum of $1,000,000, dependent upon performance.

I have tons of documentation proving my involvement in this deal. I have a Seller and his right-hand man prepared to speak on my behalf to validate my involvement and value to the project; including that I was the only contact throughout the numerous ongoing negotiations of the original agreement and fourteen subsequent Amendments.

I am not being paid and with only a verbal agreement would like to know how best to proceed in order to be paid for my services.

Thank you.

 

[HomeGuru]

What is the name of your state? Colorado

I have known, and done business with, a real estate developer for twenty five years. Four years ago he asked me to consult on a hotel project in Vail, CO. I do NOT have a real estate license. As a consultant, my task was to locate a property and negotiate the purchase. The purchase of property was for purposes of redevelopment into a five-star hotel. The developer and I did our deal on a handshake. The developer was purchasing the property for his own account, not on behalf of someone else.

I located the property and became the sole negotiator and direct contact with the Seller. After four years of negotiating, renegotiating, etc. with the Seller, we finally had a closing on the property. I was to be paid a minimum of $250,000 and a maximum of $1,000,000, dependent upon performance.

I have tons of documentation proving my involvement in this deal. I have a Seller and his right-hand man prepared to speak on my behalf to validate my involvement and value to the project; including that I was the only contact throughout the numerous ongoing negotiations of the original agreement and fourteen subsequent Amendments.

I am not being paid and with only a verbal agreement would like to know how best to proceed in order to be paid for my services.

Thank you.

**A: hire an attorney and sue. Good luck, you're gonna need it.
And did you know that you were in violation of the CO real estate licensing law?

 

[seniorjudge]

The Colorado courts are very big on not enforcing contracts that are void as being against public policy.

Since you were trying to do a real estate agent's job without a real estate agent's license, it is very doubtful that your contract can be enforced.

Since you would be suing on what you claim is a verbal contract, you would be suing in equity, not in law, and your hands are not clean.

Google equity clean hands doctrine

 

[HomeGuru]

What happened to the writer?

 

[seniorjudge]

What happened to the writer?

Maybe he's washing his hands.

 

[MrJackMcCann]

Lesson Learned, Walk Away Now!

What is the name of your state? Colorado

I have known, and done business with, a real estate developer for twenty five years. Four years ago he asked me to consult on a hotel project in Vail, CO. I do NOT have a real estate license. As a consultant, my task was to locate a property and negotiate the purchase. The purchase of property was for purposes of redevelopment into a five-star hotel. The developer and I did our deal on a handshake. The developer was purchasing the property for his own account, not on behalf of someone else.

I located the property and became the sole negotiator and direct contact with the Seller. After four years of negotiating, renegotiating, etc. with the Seller, we finally had a closing on the property. I was to be paid a minimum of $250,000 and a maximum of $1,000,000, dependent upon performance.

I have tons of documentation proving my involvement in this deal. I have a Seller and his right-hand man prepared to speak on my behalf to validate my involvement and value to the project; including that I was the only contact throughout the numerous ongoing negotiations of the original agreement and fourteen subsequent Amendments.

I am not being paid and with only a verbal agreement would like to know how best to proceed in order to be paid for my services.

Thank you.

As a consultant myself, I had similar dealings in another State. Again previous relationships with both parties, myself knowing what the others were looking for brought the parties together and made the deal happen. Both parties in fact wanted to pay me my "Fee" however their accountants stepped in and squashed the financial transactions to myself. At that time, I was not a licensed agent and that had never came into the picture in any previous transactions. Perhaps due in part to how all previous transactions were handled. However had I sued either party over this "finders fee" if I can call it that, I would have been found guilty of conducting Real Estate Practices, without a license.

Although a few years later even after obtaining my Real Estate License and reaching the Million Dollar Producer and Multimillion Dollar Producer Status, Even recognized as the 5th Top Listing agent in the world. I learned that having a license does not automatically mean that you cant still be screwed out of your commisions, although there is not much the State Department of R.E. Licensing will do about some of these situations.

So I say to you, even if you would have had it in writing, Walk Away Now and add it up to a Lesson Learned.

 

[HomeGuru]

Nice story.