RE attorney required for assigning. Is it costly??

Penny,

I have never used an attorney to do a contract assignment. I am in Colorado so the law may be different where you are. My advise is to attend a couple of REI clubs and talk to people that are assigning contracts where you live. Find out what title companies they are using to close. Get out there and find out for yourself, you will meet all kinds of people that you can use on your team.
When you do need one, most RE attorneys charge $100 to $225 an hour.

Hope this helps,
Michael Mangham
MD Home Acquisitions LLC

an attorney necessary to assign your contract? Once you find your end buyer they pay you and you give them the contract. Why does an attorney need to be involved?

the advice of Matt Larson. He says to use an RE, not a title company.

Penny

Yes i had a nightmare with a title company. I need to know this aswell with using RE Attorneys to handle the assignments.

What kind of references did you have when that title company gave you trouble? Did a bunch of investors that do assignments tell you that was the company they use and they never have a problem or how did you choose them?
I think in some states you need an attorney to close? Not in Colorado! Once I have good legal contracts and a title company that does assignment deals what would I need a lawyer for? I don't. I have done several in the last three months and have been no where near an attorney. Maybe if you wanted him to walk you through the first couple of deals but why add the expense afterwords? Just my opinion on this. Its never bad and usually very good to seek legal advise if you don't know what you are doing!

Good luck and make an offer!
Michael Mangham
MD Home Acquisitions LLC

Wow I actually had an appiontment with an RE Attorney today, and asked if assignments were legal in California, and he said yes he deals with these strategies all the time. this appointment took 15 mins. and cost me 62.00 dollars witch was 250.00 an hour.
Hope this answers your question.
he also told me that he would bill me monthly but he had all sorts of payment options.So I would imagine that they would be willing to wait till close if the numbers looked good depending on the Attorney.
also he said he would give me a great price so that he could have my future business and we could continue to work together.

Im here in sacramento, and to hear that an attorney told you it was legal is music to my ears.

My question is how did you find that attorney? What questions did you ask, I am actively looking for one this week, and would like to know a few questions to ask them, so I know I'm picking the right one.

Please respond, or pm me with your response.

Thank you