Can U Assign W/o Revealing Fee?
Hello everyone, I'm new here and this is my first post. I was wondering if there was any ways to assign a contract without revealing your profit to your buyer. Some might say do a double close but this question came about from another post referring to proving to the buyer that "I" have the right to assign a property. How would I prove this without showing my purchase agreement revealing my cost or incurring the added expense/hassle of a double close? Thanks in advance for any help.
Tom
White out works wonders. Make a copy of your contract and white out the price on the copy to prove to your buyer that you have control of the property. The double close method is the only way I know to do this type deal. It actually is not that expensive. Only a few extra documents and escrow fees. How big is your fee. Some posts I have seen say that if under $5000 do the assignment thing and if over to double close. This is of course flexible depending on your buyer and seller.
Hope this helps some
Ted Jr
The first question would be WHY? If the deal is good, the investor will not care that you are making aprofit. I prefer to be up front about my margin. If your buyer has a problem with it- move on - this is how you make your living.
By the way - Please tell me how you can charge an assignment fee and not tell the buyer how much to pay you.
You should not be bashful about making money.
Gregg
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Gregg Fous
Investor/Developer
"Developers Make it Happen"[ Edited by GFous on Date 11/24/2003 ]