Offlinehi everyone, well here's a my question, I look for properties almost everyday and many time i find FSBO already at a cheap price some times below FMV. So an idea came to mind, if its ok with the owner, why not just assign it to somebody else just slightly higher than the asking price to make my profit? in other words if the owner is selling their property for $100,000, i'll assign it for $105,000 or $110,000 because bottom line its already below FMV. Does this seem, I guess "morally wrong"? or is it ok, because quite frankly, im bringing the investor on the other end a great deal that they possibly never had any idea about.
ThanX
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No, nothing wrong with that, but I would still negotiate the price with the seller. Are you going to use an option contract for these deals?
"If you cannot do great things, do small things in a great way.”
Napoleon Hill quote
thanks, i was just going to do a regular assignment, im not to sure what you mean by an option contract, but if you meant a lease option then no.
ThanX
Nothing wrong with that at all. Just don't get that greedy. I would still talk with seller and try to lock up the house for less than they are asking, this way you have a little more room to work with. Seller sells the home, you make a nice fee, and end buyer gets the home they need.
Jeremy
This train, Dreams will not be thwarted
This train, Faith will be rewarded
Big wheel roll through fields where sunlight streams
Meet me in the Land Of Hope And Dreams
Bruce Springsteen
You will find that if you negotiate the price with the seller and explain to them that you can find a buyer quickly, they will appreciate you when you deliver and not care that you made some money for doing so. It may seem wrong but, otherwise the seller would still be sitting around wondering if and when their house will sell. Give hope to the seller and deliver on that hope by selling the house quickly. If you do that no one will be mad at you.Not even the buyer who will be happy they still got a great deal!
-Moses
I agree with my partner Jeremy about not getting greedy. Make a nice fee, your happy, buyer is happy and seller is happy. That is why you put and or/assigns in the purchase offer. Hey we are here to make money, right?.....Jan