I am considering providing information, forms (I will fill out as well), marketing, and screening tennants as a service to home sellers that want to use lease/purchase as a way to sell their property. I would charge a portion (or all--depending) of the option fee for my services. I am a loan officer in Texas and wanted to make sure that I did not need a realtor's license--or something else-- in order to do this. I would possibly also offer a new loan with no origination fee to the seller for their new property if they chose to use my lease/purchase service. Thanks in advance for your thoughts!

Unless Texas has very significant differences in the laws... you could very easily run into trouble.

While Real Estate Agents are permitted by law to work with certain forms of contracts for clients, only attorneys can do all forms of contracts.

The only exception is if you are one of the parties directly involved in the process... a buyer or seller. If so you could write anything up you both agreed to and no one would or could have issue.

As a loan officer... I would assume you would run afoul of both agents and lawyers and face charges of acting as a licensed agent and or attorney. All it takes is one phone call.

Also, If I were a real estate agent and knew you were providing self help real estate activities, I would not support your loan activity and would promote others also not to do so as, to me you would be violating federal laws preventing banks from being involved in residential real estate transactions.

In addition I would wish that the flies of ten thousand camels would visit upon you every moment of your life.... just kidding.... I think???

Austin...

Reality is right on track with his thoughts too my knowledge also... Unless Texas has granted/given Mortgage Brokers the powers to act as an Attorney and/or Real Estate Agent/Broker you would be running afoul of several laws, both State & Federal... Also keep in mind that unless you are specifically involved with the transaction, normally you must keep yourself out of the Attorney/Agent part of the deal...

I think all of us here would recommend that you contact the Real Estate Commission in Texas and ask them specifically about it... If you would like to do that kind of business, then take the tiime and also get your Real Estate Sales License as this will probably help you a great deal...

Good Luck...

Duane