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Author Topic: Assignment Fee?  (Read 2341 times)

Offline creep

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Assignment Fee?
« on: July 30, 2006, 12:41:30 pm »
House can be had for $150k, needs $20k in repairs, ARV of $260k. Is a $10,000 assignment fee too much or should I make it less?

Offline blueboxer

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Re:Assignment Fee?
« Reply #1 on: July 31, 2006, 01:37:31 pm »
In order to get that kind of money, wholesale the property I havent seen an assignment fee for that much.

But that still leaves the buyer with $70k in equity which isnt bad at all.

Offline creep

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Re:Assignment Fee?
« Reply #2 on: July 31, 2006, 01:44:40 pm »
So would you say $5000 is a better choice?

Offline blueboxer

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Re:Assignment Fee?
« Reply #3 on: July 31, 2006, 02:03:10 pm »
For that kind of money, you should have the paperwork in writing, therefore I recommend you wholesale the contract? Do you have a buyer already?

Offline creep

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Re:Assignment Fee?
« Reply #4 on: July 31, 2006, 02:11:45 pm »
No, unfortunately. I found this deal last minute and can't come up with the earnest money (still in college). Now I am trying to bird dog the deal to an investor who has the $1000 for the earnest check. I need a buyer tomorrow at the latest. I am new to all this, so I don't have a buyer's list yet.

Offline blueboxer

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Re:Assignment Fee?
« Reply #5 on: July 31, 2006, 03:07:34 pm »
I would ask for the $10,000. If the buyer says "thats to much" then work out something.

You seem to have a good deal, so work with the buyer to come up with a win-win situation for both of you.

Offline creep

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Re:Assignment Fee?
« Reply #6 on: July 31, 2006, 03:14:09 pm »
Unfortunately I can't come up with the $1000 earnest check, so I am still trying to bird dog the deal. No luck so far; I can't seem to find any investors in the NW Arkansas area who will go above $150k ARV.

 




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