Double Assigning Contracts

The key is if the title company will do it ... most title companies won't
because they it's illegal & they can lose their license because the end buyer is the only one with cash ... & technically they have to close that transaction 1st & basically work backwards. What your asking is seller A to you buyer B, then to buyer C, & then to the end buyer, D.
It's hard enough to find a title co. to do A to B to C. Plus if your in a state that you have to have a lawyer to the closing, it could be rougher.

if you used transactional funding, but it does cost for that.

Wouldn't buyer B be out of the picture before it goes to closing?

yes, but I don't know if anyone has ever gone to a closing with two separate assignment fees wether iee or not, and not everyone allows the cash assigning through title companies, some have to go through real estate attourneys for that.

Buyer B could get paid directly from Buyer C, and C assignor and D Buyer go to closing. I'm asking this because I was willing to work with an investor that way. However, I want to make sure it's okay.

nwbirddog911

Thanks, you guys/gals,

nwbirddog

want to let another investor assign your contract. You have no guarantee that the wholesaler is going to have his end buyer close on the property and you will end up being responsible because you did not secure a true buyer.

If you are working with another wholesaler who says they have an end buyer then you fill out a non-disclosure non-circumvent agreement and a finder's fee agreement. This allows you to work direct with the end buyer, but still pay the wholesaler for finding you the end buyer. You submit an invoice for "marketing" to the escrow company and the escrow company pays the "marketing" fees to the wholesaler and the remaining balance to you. You cannot submit an invoice for wholesaler or finder's fee. That will make you out like a real estate agent. So you need to find other ways to get your wholesaler paid. He basically marketed your property for you, so issuing a marketing invoice is appropriate.

By doing it this way you still remain in control. Depending on your fee amount you will either split the wholesale fee 50/50 or give him at least $2000.

Hope this helps...

KimmyJ
Press on.
www.tagteampropertiesllc.com

What states you do not need a lawyer for real estate transaction?

I asked if I find a buyer for the investor who is emailing me cheap properties to purchase, what can I profit from the transaction and he told me to add my fee on top of his price. How do I know he will pay me? Should I still do a finder's fee agreement with the wholesaler and the buyer before closing?

it would be a good idea to have everything on agreement in a contract before you close, that protects you from being cut out of the deal.