OfflineI keep hearing from people that it can be very difficult to complete assignment deals on properties listed on the MLS. I keep seeing people say that the sellers agent doesn't understand what you are trying to do so they reject you. So how difficult is it really to close these MLS deals even though you might have quality CASH BUYERS in your corner waiting to take over the deal?
Some investors told me to stick to FSBO deals only because of this so I wanted to see other peoples ideas on this. I would appreciate some veteran knowledge on this topic if possible please.
Thanks
Nick
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Hello,
Please explain to the agent what you plan to do , and she/he should write the offer with end or assign, I said I need to write like this in case I don't like the house. Some banks, however are very strict and don't accept end or assign in the purchase agreement.I haven't done a deal yet, I am sure someone will advice on this.
On REOs you cannot usually EVER do an assignment. Of course, once in a blue moon, one will take it, but "rule of thumb"-No REOs.
MLS deals are not a problem. You DO NOT tell your realtor ahead of time that you assign deals. They do not always understand this, so why confuse them? I have my realtor put in "and/or assigns" and I told him that my partner and I have not yet decided if we are going to put it in his name, my name or put it into an LLC. End of story. No problem!
Karen
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I do exactly the same thing as Karen. you can do it. But like Karen said The bank rarily allows this so plan on a double closing for these type of properties.
"Don't tell me I can't, Tell me how I can."
I have spoken to 5 realtor in the last 4 days that all tell me that they can not do it
Also I have gone through 23 properties yesterday to no avail how do I find fsbo
I think my best bet will be to do nod expires and maybe rental calls will try that this weekend
I am determined dedicated and will make it in real estate thanks Dean
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