assigning a deal

California is a non recourse state, too. In July, a new law was passed that forbids the junior lienholders from pursuing the debt after a short sale as well... so the homeowner that completes a short sale can now breathe easy on all the mortgage debts that were attached to the home. This does not apply to IRS or tax liens, though.

Escrow will do the Hud 1

My name is jeremy and i am 20yrs old.. I read deans book an it was great but i really love real estate an want to make a living out of it so i was wondering was there any coaches out there that would like to walk me threw and kind of show me the way.. thank you

I think that anyone starting off should get a attorney who works with investors. If your state allow assingment it's pretty simple. I down load a standard 1-4 contract off the trec website for realtor. I write up my offer to purchase with and or assign. I now advertise for a buyer. once a buyer is found I have a assingment of contract ready for this buyer. I call my attorney and fax him a copy to review. The rest is history and $ 5000,00 to $ 10,000.00. is soon on its way. I did not learn this by just reading books. You need a mentor or get coaching from someone. I got lucky and found a mentor by going to local realestate groups and attended all kinds of meeting I could get help. Now as I hear Dean talking about how to make money or putting deals together it all makes good since. They are actually telling averything you need to do. If you want to get going fast get a personal coach or a mentor fast. My mentor told me averyday I'm not buying house I lossing money. I see what he talking about now as well, because I see How many buyer are looking for good deal avery day. I also see how much money he make from homes he buys and sell. I was like most of you out there also. No Money, credit in the trash, and a business owner with a pile of things to do. I just had to cut out TV time and now I have cut back on my personal business to make time to find and buy houses. My wife find the buyer. I just got lucky again. Dean said build a list. Then build a list for buyers. My wife kick my "BUT" in income for one month by making 17k in assingment. Boy was I mad. I fixed her. I just cut back a my other work so I could catch up with her getting sleep til I wake up naturally just like her. If your new get Help from someone or grab a coach your only delaying yourself from living.

Ho by the way this is a New Photo I used from a cruise ship I went on with a group of investors who took part in a contest to see who could buy or sell the most homes. It was Free for me and my wife because we "won" our paid trip by the Rei group we are a part of. Dont let fear stop you from asking for help and stepping up to the plate. I do assignment and subject to all day avery day. I just wanted to help someone today get started like DG got me started.

In a subject to deal do you have the tenant buyer make the home owner's payment to the bank? Is this a strategy you personally use over lease option, if so why and is it difficult to negociate this type of deal?

Sully, I am a new-be, I have searched the contracts and forms for what I need but I can't find them. Can you please help? You sound like you know what you are talking about. I'm meeting with a home owner Monday to sign a lease to own contract, I would also like an assignment release in the contract so I can fix it up and sell it for a profit. How do I do that?????? Is there one contract or will I need to add another contract as an addendum? Where do I find the right contract for assignment? ReeREE

Do you know if Fla is a non-recourse state. Love your replies, very detailed.

Never seen title co get one right the first time? Isn't that stuff very technical, do you check them yourself, or do you have yur attorney do it? What kind of things do they goof up on? Whats important to look for?

There is a list of forms you can use for this and many other things on the dg site:
http://www.deangraziosi.com/resources/real-estate-forms

On this deal, were you working with a realtor?

What do they do exactly? I thot they were part of the title co and why would they pay your fee?

So, You're saying find a buyer for a Seller, lock the Seller into a contract for 30 to 60 days with me and the assign name? Is the Assign left blank until I find someone to assign to, if need be? If unable to get an Investor/Assign within the time frame that's stipulated in the contract, I can withdraw without a penalty, correct? Does this pertains to FSBO's only, right? Can one find a straight out Buyer as an Investor, and not acting as a Realtor?

Can someone answer this for me?

Thank you

So, You're saying find a buyer for a Seller, lock the Seller into a contract for 30 to 60 days with me and the assign name? Is the Assign left blank until I find someone to assign to, if need be? If unable to get an Investor/Assign within the time frame that's stipulated in the contract, I can withdraw without a penalty, correct? Does this pertains to FSBO's only, right? Can one find a straight out Buyer as an Investor, and not acting as a Realtor?

Can someone answer this for me?

Thank you

Assignments of contract is the process selling an offer on property.
You will first offer on a property as though you will purchase the property yourself.
On the buyer's line it will normally have your name and/or assigns. This signifies that whoever "assigns" is can also buy the property.
When the offer is accepted you would sell the contract to the new buyer.
This sale of contract is called assignment of contract. This again is the process of selling the contract or right to purchase the property that the offer affords you to a new buyer.
The new buyer would pay you a fee.
You would be out of the deal.
The buyer would purchase the property at your originally agreed price and all of the parts of the contract.

FSBO's do not change this process.

Hi I have a potential deal in the making,I'm just not sure if I can assign the deal. I am working on a duplex that has been foreclosed on. I planned on assigning the deal to one of my end buyers for a fee. The agent told me that I couldn't do an assignment because the home is a foreclosure. She is really motivated to sell the property and was all set to make a great deal until she found out about the assignment part. I have to get back to her in the morning on my intentions. Is there a way I can make this deal happen besides just getting a fee for birddoging? Can someone please tell me what are my options for shortsales, preforeclosures and foreclosures, I know that I can't assign REO's but what are my options there too?

Thank you for explaining. If the contract is assigned to the investor for the original price of the contract, does the investor write you a check right then an there for your fee?

thanks

I'm looking at the "Assignment of Contract" contract that is posted in the Forms and Docs section of the Deangraziosi.com website. My question is, on the contract it asks for the "contractor" and "contractee". Who is the contractor and who is the contractee. And also, who is the assignor and who is the assignee?

assignor is you

assignee is your buyer

Thanks Mike!

Can we assign an REO?

If we cant, what other option do we have if we have a buyer and a REO? What can we do then?

Would really appreciate if someone can let me know this.

DOUBLE CLOSE. Using transactional funds or buy and sell the LLC you put the property into or put it in a trust and sell the trust or simultaneous close.

Each strategy works. Just depends on the contract from the lender and what is legal in your state.

Michael Mangham
MD Home Acquisitions LLC

PM me with any questions

By Transactional funds you mean using costal-funding or something similar,right?

What is the best way to obtain cash buyers aka buyers list,....... If u tell me crags list that's cool, but do i have to enter for each state. Any help would b helpful. .............By the way is there r there. any one out there looking for a bird bogged in parts ofdc,md,Vas if so can you send me your criteria

Can you assign a property even if it is assigned to real estate company or is it just better to do it with fsbo 's

I'm wondering what the little things that I need to do on an assignment. Overall I'm minus about $100,000 and really don't have the money to do a title search.
I'm wondering what I should do before i lock it up and assign it.
Do i do tittle search?
Do i do an inspection?
If I don't what if something goes wrong with the deal?

Im not afraid I just want to know what to do to get a good name out there and be respected about what I'm doing. Thanks for any help.

As others have said, the banks don't like to see the wording "and/or assignees" in the buyer name slot. Best to work with individual sellers to give you a little more flexiblity. GOOD LUCK!

I want to do a assignment but how do you work the numbers. What the standed offer formula? Could someone please help.

Thank you

Will

surprising to see that response earlier when all you see on the board is,."i assigned an REO or Shortsale...."

Since all major banks seem to be who we are wrestling with it seems it boils down to who is working the paper work.

I am trying to find a Realtor as we speak to do this in my area of california.

Wish me Luck,.....