ficklin007

well geri, YES, if your dealing with a bank then do a DOUBLE CLOSE. Also, when doing an assignment, you will collect your FEE @ closing, buy the way, the END BUYER(investor buying your deal) knows your NOT doing this for FREE, they expect you to get paid, let that handle it's self, SULLY.

Thank you....looking forward to reading your posts.

Geri

Thank you....looking forward to reading your posts.

Geri

Hello Everyone.

I'm Geri from New Jersey. New to this business, however, I can't wait to complete my first deal.

I have been on the site several times...reading, learning, while at the same time reading the book. This is one of the best sites I have ever been on or a part of. I love it!!

There is so much to take in and learn....your head is spinning when you finally take a break. Also, I would like to thank Sully, Elena, Anita, and Shiela for answering my PM questions. You guys are great, in fact everyone is.

Here is my question:

When doing an assignment, and trying to collect a fee...is it suppose to be on the HUD or are you paid outside of the HUD? I have been told it's done different ways. If you are paid and everything is listed on the HUD, what it the line item titled? i.e. "assignment fee" or "finder's fee".... is your name attached to it?

Will the check be made out to you personally?? or will you need to create an LLC?

I understand the "and/or assigns" which is now my new name (smile)...the "assignment form"....

What I don't understand is how the payment is made.

Does the closing agent make a check payable to you, or to a company you created?....or does the buyer come with funding (to be deposited in escrow) and or separate check for you...? depending on bank funding or all cash deal.

Or after all is said and done, does your check come from the closing agent?

I was told that a HUD is not necessary...if that is true, how is the transaction put together and executed so that all parties get what they agreed to?

What am I missing? Please help.....

I hope that this is posted in the correct place and under the correct topic...I don't want a time-out on my first post....

By the way...along with everything else, I listened to Anita's live call last night from May 28th, around 2:30am....where she went in for one deal and got all three with all closing costs paid for her....it was awesome. He really paid it forward.

Yes...I'am doing my homework assignment!

After that, I found Darlene's blog....it too was a head turner....loved it.

Thanks for your help everyone. Can 't wait to hear from you!!!

God Bless...
Geri.

How u doing? What part of NJ u from?

Everyone Can Make A Difference!
John A.

Hello and Welcome to the DG Community!
May You have Great Success on your Journey! You will find a vast array of information at your disposal on this site. Most of your questions can also be answered by researching in some of the Forums, Posts, and other links available. It would also be to your advantage to complete your profile to it's fullest as well as creating your own personal journal such as my example here: http://www.deangraziosi.com/real-estate-forums/investing-journals/54326/...

JJD