Offlinedoes anyone know how to split the fee for an assignment?
If I get this deal done I will be effectivly wholesaling a house from a wholesaler. I know its done, but I'm not sure how.
also, does the asignment fee some from the closing statement?
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"dump the clutch and nail the throttle"
"Just do it, Get it Done!"
--Matt Larson
anyone?
"dump the clutch and nail the throttle"
"Just do it, Get it Done!"
--Matt Larson
what terms do you have between you and the wholesaler that locked up the house? He locked it up and you are bringing in the buyer...right? what does the assignment contract say that you had your buyer sign??
You can put whatever pay outs you want on the assignment contract that you and the other wholesaler agreed on.
make sense?
Don't Wish the Past, Create the Future! - DH
I have not said to the whole saler that I was going to whole sale it, yet. I merely stated that I was a real estate investor and I went to look at the property and then I called a contractor for an estimate. Also I didn't have a buyer for that area so I call for rent ads on c-list and found a landlord down the street who was buying. Havent presented a offer yet as I am waiting for the rehab estimate.
What terms should we have?
We have not yet discussed a contract.
----->???Does the assignment fee get paid by the closing statement???<----------
"dump the clutch and nail the throttle"
"Just do it, Get it Done!"
--Matt Larson
anybody else?
"dump the clutch and nail the throttle"
"Just do it, Get it Done!"
--Matt Larson
If I get this deal done I will be effectivly wholesaling a house from a wholesaler. I know its done, but I'm not sure how.
also, does the asignment fee some from the closing statement?
Heres what youre looking for, from Tammy,Zion properties
http://www.deangraziosi.com/real-estate-forums/my-deals/89530/co-wholesa...
Mike
https://tvallc.isrefer.com/go/RehabLite/renvestr/ Free tools
You can look at setting it up as a joint venture with the other wholesaler. You just have a joint venture contract between the 2 of you that will give the details of how the deal will work and the compensation between the 2 parties involved.
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Joint venture.....sounds probable
"dump the clutch and nail the throttle"
"Just do it, Get it Done!"
--Matt Larson
I was paid through escrow the full sum and had a sub-fee agreement with the person who had it under contract. The buyer signed the 'finder fee agreement' (you can use an assignment agreement too) BEFORE they were put on the contract and it was given to escrow to pay directly out of the escrow funds. Hope this helps some.
good info
"dump the clutch and nail the throttle"
"Just do it, Get it Done!"
--Matt Larson