Stamp Duty on on-sale of IP

Attention FLIPPERS !!! Question...?

Reply: 2.2.1.1.1.1.1.1.1.1.2.3
From: Ross Sondergeld


Hi Michael,


Personally... I very interested in flipping! But i'm having an enormous
amount of trouble with the legal relationships of the parties involved.

But first, i'd like to address some of teh points you raised...


Michael said, "This is a loaded question; if I supply you with a buyer and
this person buys through you, will you pay me a 'spotters' fee?"

No, I don't pay spotter fees to anyone. (Referrals included.) I don't create
sub-agency relationships and I don't refer my clients anywhere.


Michael said, "When I flip (and I'm doing one right now in the ACT for $10K)
I have a side agreement (fee for service for locating the deal) which
protects my $$."

Do you use a irrevocable authority? Or an employment agreement that outlines
your obligations (ie. I'm just a spotter) and limits you legal liability.
(i.e. creates a non-agency relationship.)


Michael said, "Do I act like an agent? I certainly hope not!"

I'm asking... what is your legal relationship to the client/customer?
Principal and agent or something else?


Michael said, "Another question for you; your not loading your gun for the
flippers in your area by any chance?"

No. I don't know any flippers in my area. But I do have an extremely strong
link to the changing legal structure of the real estate industry.
(i.e. from straight "seller agency" towards "single agency".)


By the way... I already know the answers to my questions. But I was
interested to see what the flippers thought? And I know alot of other forum
watchers were extremely keen to hear a few more replies.


Anyway I'm off...

Ross on the Gold Coast


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