Contracts and Offers

Can an Option to Purchase Agreement be assigned? Or, do you have to eventually complete a Purchase and Sale Agreement with your seller in order to collect an assignment fee from your buyer?

Thursday I am going to look at a 4 plex that I've been looking at for a while. Everytime I rode by and saw that for sale sign, I kept saying I'll call on that tomorrow. Well I finally called and talked with the owner and he gave me this information that I want to share and see what you experts think.

I saw a house on zillow that caught my eye and I went and looked at it today. It is another REO and is It Sold as is. I thought I might just look around and see if I could tell anything about it. I stopped and was going to look in the windows but I realized there were blinds and they weren't closed. After I got to the door, I also realized there was no lockbox so I just knocked on the door to be sure and lo and behold a man came to the door. I was kinda shocked and I just asked him if this was the house for sale (playing dumb) and he said yes. I said oh, are you the owner and he says no, he is renting. Now I don't know what to make of this. It's bank owned and is advertised for sale but there is renter??? Do banks do this to get money while it is on the market?

Asking more questions about properties!!!

I was researching lease purchase contracts on line and saw a recommendation to use both a lease purchase contract AND a standard rental contract when making a "lease with option to purchase" deal.

Is this so, and if so, why?

Marc

I found two FSBO properties, after due diligence and research I want to get these homes under contract using the assignment strategy for quick cash. I've read the books and gone over the documents but I am still unsure of how to proceed, and partly in myself having never done a deal before.
Would I just use the standard purchase and sell agreement using and/or assigns after my name? Then Assignment contract then attorney for closing? Can attorneys handle deals nationwide or would it be best to use a local attorney from their state?
I've gone through other posts which helped but I am still reluctant. Any help would be appreciated.

Howdy y'all

I was in the need of a good title company or lawyer to do double closes for me as i have a few coming up.

Before i started my search i figured i'd ask on here first if any one had any good ones in mind that can work in the state of Oregon.

Thanks in advance

Hello to all the DG'ers on this website. I am new to this business after reviewing the "Think A Little Different" program i am very interested in assinging property. I now have two cash buyers who are interested and my question is where do can i get an Assingment contract from?

Hello,

I though i'd post this question on here just for motivation on my part and a clearer idea of what is going on.

I found a house for sale...semi-short sale 188k
compts show its worth just about that give or take 10k

I contacted the agent via email and she called me and to sum up our convo was.

"I have invested for many years and know what the houses are worth", "I dont think the bank will take an offer that low as they just did an appraisal on the property",
"The houses in the area that i compared are about the same price, so the value for this home is fair"

These are the things the agent said..I feel she is talking from the view of a uneducated investor in my opinion, i wanted other people's input so i know how to think and handle another agent with this thinking.

When we are wholesaling/birddogging we can legally collect our finders fee in two ways without a brokers license.

1.) Put a deal under contract and then assign the contract
2) Use transactional funding and do a back to back closing or a double close.

The third way is a part of my question below :

So my question is do we have to put the deal that our buyer/investor wants under contract and then assign the contract
or can we legally collect our finders fee without putting the deal under contract and assigning it when we get a 1099 from our buyer/investor and have an agreement with our buyer/investor that specifies that we will get a finders fee for the properties we introduce to them which they close on ?