Paid Before or After Closing?

I have read and heard that before closing is better.

Andrew Dean

if you are assigning the contract, your job is complete when they accept assignment as long as there is no written clause to the contrary. However, you have to make your own mind up on a refund policy if something goes wrong that is no fault of the buyer. If the buyer changes their mind you have still earned your fee. An example would be if they can't come up with money for closing. That's not your fault. But what if the property won't appraise? What if the seller can't deliver a good title? What if there are hidden defects found before closing? These are the type of questions you have to ponder when doing assignments.

I always get paid at closing and my assignment fee appears on the HUD! Totally legal. No gray area as to being paid a fee or commission and not having a license.
Like Bill said, getting paid before the deal closes can open up a large can of worms. Keep it simple and let the title company cut you a check at closing. Just my opinion.

Michael Mangham
MD Home Acquisitions LLC