OfflineIf I use a real estate agent, can I lock up properties and assign them to an end buyer? If so, how would the real estate agent get paid.
Also if I am using a real estate attorney, how would he get paid in an assignment deal?
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Assignment Deal Question-Using Realtors
Posted on: Thu, 06/10/2010 - 18:53
I have the same question as manifest11. I just got off the phone with a Realtor, but wanted to know how to assign properties through seller's agent?
I live in North Carolina, anyone willing to mentor me through some no-money down deals. Just got Dean's book and am halfway through it already. I have been interested in real estate for over 20 years but felt as if I couldn't do it. Since watching Dean on TV, joining this forum, and reading Napolean Hill's, "Think and Grow Rich," I realize the only limitations I had were those that were self-inflicted.
No more limitations!!!
The agent is acting as your "buyers agent". When an offer is accepted by the seller with your "and/or assigns" you then assign the contract over to your buyer. Here is how your agent gets paid. Your Purchase and Sales contract says who the agents (both sellers and buyers) are, what escrow co is being used, title co. etc. When you assign your contract your buyer is still using your agent. That is the deal. They can't bring in another agent to do the deal. So your agent gets their standars 3% commission or whatever was negotiated in the purchase and sale agreement.
It's very easy. You and your agent put in an offer. It's accepted, and you assign the contract to your end buyer. End buyer goes to closing with the seller, agents, escrow, attorneys, you, etc. and there you go. Deal done.
Richard
Bothell, WA
Just a suggestion too. Try typing in a subject or question you have in the search engine on the top left. This question has been asked many times before and this way you can get the answer right then instead of having to wait for new responses. I just thought it would help
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