Assignment Of P&S And Conventional Lenders
I am new to wholesaling. I have a P&S contract and have an end buyer. There is 45 days on the P&S and the end buyer wants to get a mortgage. I will get an approval letter, proof of funds, speak to her loan rep, etc. But what else should I look out for when wholesaling to someone who is getting traditional financing. Will the assignment fee on the HUD be a concern? Do lenders care that the borrower is the assignnee?
Brenda
Lenders do not care. As long as you have an invoice.