OfflineNewbie question. Let's say I have wholesaled a house from a seller for $120k. Now I find my buyer and am looking to make $10k on the assignment. Do I assign the contract for $10k to the buyer? or do I sell the property to the buyer for 130k and take the 10k difference as profit? I know I end up making 10k either way I just want to know exactly how to go through the 'wholesale and assign contract' process. Thanks for answering a newbie question.
Sonriffic
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If you're offering a great deal and you think the end buyer will not have a problem with the 10k fee then I would have him/her give you the fee and you give them the contract. If you don't have to go through the hassle of escrow, I wouldn't it. However, there will be times when you will need to do an escrow and collect your fee at the close of escrow. Hope this helps...
KimmyJ
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what should the the financing contingency say when you assign contract
De-Andre Smith