Double Assign? How Does This Work?

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We just made an offer on our first rehab and it was accepted. We immediately found someone who agreed to buy it from us for $5K more than our offer. She, in turn, has someone she's selling it to for a $5K profit. She said instead of doing a double assign, we should just sell it to the third party for $10K and give her $5K after closing. It sounds OK to me, but I wanted to run it by you guys to see if there's something I might be missing, as I haven't ever heard any details about this specific type of deal. confused

Comments(3)

  • wetears19th July, 2003

    If there is not a signed a "purchase agreement" from the first lady buyer, then why have her in the equation. Let her expose you to her potential buyers and sell to them directly.

  • DavidBrowne19th July, 2003

    good advise don't cut your lady bird dog out of her five if thats what you set up

  • crf3boys19th July, 2003

    Thanks for the feedback. We definitely WOULD NOT cut her out of the $5K we agreed to give her. We know that "what goes around, comes around" and we like the good stuff that's coming our way (like this awesome website and people who are so willing to help)

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