All About bossman

Anthony Vitale
My interests include real estate investing, weightlifting, playing basketball, and reading.

Topics I've Participated In

How does Escrow Work? Anitarny2110 years 14 weeks ago
Assigning a Contract: Assignment and Finder's Fees? bossman2010 years 40 weeks ago
Finder' Fee Contract bossman211 years 16 weeks ago
Wholesaling bossman511 years 29 weeks ago
WE BUY HOUSES bossman711 years 29 weeks ago

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In College

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Mainly Just This One


Assigning a Contract : Finder's and Assignment Fees ?

I have a few questions when assigning a contract. After meeting with the seller and signing the purchasing agreement, you then find your seller and assign your original contract over to them right? They then assume the buyer's rights and they pay you a finder's fee and an assignment fee right? How do you get your money for these 2 fees ? Where do you go to pick your money up ? How much do you charge for an assignment fee ? I know a finder's fee is between 2-3 %.

Hi bossman

Rina's picture

Here's the link to "Investors Not Needed" you were looking for, just in case you hadn't found it yet.



Hi Bossvitale, you ask me about my steps on how I went about my re-assignment. Well I work 12hrs a day so my time was limited so I used google to search for homes FSBO and found some sites that were free and had the owners name, number, pictures of the house, and the location of the house. The down fall was that some of these sites are not updated so do a title/deed search to make sure the name on the web site match the name when you do a deed search. I found my investor by doing a goolge search like ummm "We buy homes in (put your area here)" he told me what he was looking for and i put it in the search engine on the FSBO web site. I am using the contracts on this web site for the purchase contract and the re-assingmnet. COME ACROSS AS PROFESSIONAL AS YOU CAN.DO YOUR HOME WORK. Write down what you want to say or tell them(who ever it may be buyer/seller) on paper. The seller will have a lot of questions pertaining to what is a re-assingment and you must answer them so that the seller(home owner) will be confident that you will do your job. I am still in the process on my reassingment as in my case someone already tried to reassign his home and failed. But i sold my self good and he wants to go forward.

hey boss-

sully's picture

listen, if your gonna do that you need to put those properties under CONTRACT, you have to LOCK those properties UP, on a purchase contract. That way when you give the investors the addresses, they have to buy or have you assign the property(contract) to them, it's YOUR property until you assign it to them for a fee.

The way you did it now, they can "screw" you all day without giving you a dime, but for now try and tell them that you expect $500-$1,000 fee if they close on one of your properties and hope for the best....YOUR HERO, SULLY.