Offlinehi everyone! I was just curious as to how exactly do you assign over a REO? And the book really is not clear on assignments of REO either, Im kind of stuck in a rut know because I had a bank to accept a low offer but no sure what to do next. Someone please help
thanX
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There's a couple of reasons that it doesn't cover REO assignments very well. The main reason in my opinion would be that most banks will not allow an assignment clause. Therefore, you must do a double close. A double close is simply closing with the seller and end buyer on the same day. That way you don't have to put any money into it and it is a way around "assigning". I have also read on here about using land trusts, but I'm not quite sure they have been 100% successful doing them.
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