OfflineHello,
I know of three properties that are about to be listed but are not yet offically up for sale. I know a hand full of people that will probably be all over these properties when the listings are made and the signs go up!
My question is how do I lock these people into paying me a so called 'Finders Fee' for letting them know ahead of time that these properties will be for sale in the case that they end up purchasing the property?
Are there any legal ways to insure they don't just bypass me and go straight to the selling agents?
Are there any forms listed on Dean's Investment Center that would work? If not could anyone suggest what I need to include in such a form or maybe were I could get one without paying a Lawyer a fortune?
Although it would be well worth it to pay a Lawyer if one of the people actually did buy one of the properties the problem is I don't have the money to pay a Laywer and there is no guarentee that one of the investors I know will be the winning bidder as there will definetly be a great deal of interest from many investors as each property has very unique qualities!
You will have to lock up the property with an accepted offer. Do some research on this site for "assignment of contract" or "instant equity exchange" hope that helps.
You've got to find your obstacles and call them out! Unsheath the sword, and do battle with whatever it is that holds you back!
There is an Assignment Contract under the forms and doc section. I used it this week and it worked for me.
Anita
Anita
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TWITTER - anitarny / FACEBOOK - anitarny
"FAILURE IS NOT AN OPTION"
Anitarny,
I was wondering if you could explain how your assigning deal went, steps you went through etc. Im interested in starting with assignments but want to be 100% clear on them before i leap in. Any advice would be helpful!
Thanks,
Kristy
Does anyone have a old copy of an assignment contract to forward to my e-mail. I'm interested in seeing the numbers arranged on the lines. my e-mail address is prwallace_us_99@****
Anita you seem to be a pro
...Do you have any secrets, tips, tricks, do's, and dont's about assigning contracts?
TIA
D - DE
Don't Wish the Past, Create the Future! - DH
I truthfully I have purchase a nuber of properties before but now is the first time I am really purchasing as an investor aggressively. All I can tell you about the assignment is make sure you get paid. Work it out to where they either pay you at closing by having it written into the purchase (thats sticky with some banks and mtg companies - they dont like to do that) so what I have done is utilized something like what EBAY offers to buyers on high ticket items. I basically have the person transfer that money directly into a trust account (some call it a type of escrow account) but the money sits there until the transaction is completed and then it is deposited into my account once both parties sign off on it and state transaction closed.
There are other ways as well. Sometimes you can assign it and get the new buyer to pay you up front. I just depends on the situation. What works for me may not work for you but it never hurts to accumulate ideas.
Anita
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TWITTER - anitarny / FACEBOOK - anitarny
"FAILURE IS NOT AN OPTION"
what steps do you use in finding a good escrow acct and what is needed when you do find one? Thanks Anita!
you should call some TITLE CO. and find one that your comfortable with.SULLY
YOUR HERO, SULLY
Anita
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TWITTER - anitarny / FACEBOOK - anitarny
"FAILURE IS NOT AN OPTION"