Asssignment Fee On Closing Statement
Ok, So if a wholesaler writes a contract to buy a house and proceeds to immediately assign his rights under the contract to a buyer who secures a mortgage, , how can he collect his $3,000 assignment fee on the day of closing and have it shown on the closing statement? Does a performance lien play a role in accomplishing this? how? Can anyone explain how the assignment fee gets paid to the wholesaler. Do lenders or title companies sometimes have a problem with that.
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One broker to another, I have had no luck w/ any lenders willing to finance buyer w/ assignable contract, and I called them all.
A private lender will but the one I found will only fund 85% ltv.
you collect immediatly when you assign your contract off