Can I Assign an Assign?

erosquist

That is amazing, I don't know how 4 people can put their hand in the pot and still make the deal worth the end investor or buyer still making a good deal. But your right if there is still equity in it anything is possible. That would be crazy for a title company to close that one, holy cow

Mikessler
Keep moving Forward!!!

There are two trains of thought on this one, but I have done both. You can assign an assignment, but since I am usually the one with the property I will just bump up my assignment fee and then get a consulting fee with the other broker, that way the end buyer only has to sign one assignment of contract.

Hope this helps,

D

Yes, you can assign and assignment of contract. You would handle it like any other contract with a seller and put an offer in with a 14 day contingency period so you can talk to your buyers about the deal. You let them know that you are assignment them another assignment of a property. They will know they are paying two assignment fees and they may not like that, but if they are making enough money on the deal they shouldn’t care. In lieu of a double assignment you can create a referral fee agreement with the wholesale for part of his fee and then put your buyer together with him, but you risk his stealing your buyer for future deals. Another way to go is to do a double closing but making an offer on the assignment of contract and then getting your buyer to sign a purchase contract for a higher price. You can borrow the money from Insiders Cash to close on the contract with the original seller and assignor and then turn around as the new owner and close on the contract with your buyer/investor. This way your buyer won’t know what you paid or that there were two wholesalers involved in the deal. They will only know what they are paying and if it is a good deal for them at that price everything will work fine.

Rather than assign an assignment, an easier and less complicated way to do it would be to either get a consulting fee/bird dog fee agreement with the original assignor and just have him/her assign it at the higher price and have him pay you directly if you don't want to show the buyer what your making, but the way I usually do it is to just have him ad me as another payee on the same assignment contract, so the assignment contract has his signature on it as the assignor, but your payment and his payment are both on the same assignment contract and you get the Assignee/buyer to sign it and make sure the title company gets a copy and has your wire instructions.

good afternoon. this is my first deal and I have a question please. I found 3 properties, that a wholesaler has actually purchased and for whatever the reason, cannot sell. He is willing to give me an assignment for 60 days. Asking 105k for all 3 properties. According to my research, FMV is approx. 155K Am I missing something here? Please help! THanks