Offlinehey all
if a property is bank owned the investors disclosure statement is still used along with the investor purchase agreement then the property disclosure statement then the discharge of agreement to the purchase agreement then what??? do i do an assignment like i Would if they have cash? The buyer needs financing. or is there another form to pass off the deal to get the financing. and also do i get paid from the buyer directly or does it come from the bank from the equity of that property?
sorry alot of questions trying to work first deal
HELP PLEASE
RAUN
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When you do an assignment you get paid from the buyer. The bank never pays you or the seller.
You either "sell" your contract, assign it to the buyer in which he pays you upfront for the contract, or you can do a double close, or kind of like bird dogging, sell the info to an investor.
There is a contract just for assigning it. Very simple and is on Deans forums if you are a student. Other wise, there may be some on line.
Do you have a contract on a house? If so use one that says you have the right to assign it, and then sell it for a set price to your buyer.
Hope this helps.
Sandi
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