Getting Paid By Wholesalers For Assigned Contracts?
How is it people are getting paid to assign contracts to wholesalers? Cash right then and there? At closing? Do you have them sign a note? Also, is there ever any problems with lenders not accepting an assigned contract?
DaShowMustGoon...
-They get paid at the time of assignment.
as long as there is clear title.
-You can use a basic agreement that you can draw up or simply assign and get paid....
-Lenders are scrutinizing assigned contracts more these days. Most investors use hard-money, cash, credit lines or private funds so that is not a problem.
If you can open up escrow and assign your escrow instead, I would recommend that, when you seller asks who is this new buyer, tell them it is your partner...
Best Riches,
Jeff Adam
[addsig]