newbie, If I assign a property does it have to cash? or can it be financed?
Jacque!
if you assign a contract, whatever terms are in that contract are the terms you are assigning.
When assigning a contract, the person that you assigned the contract to can use either all cash, hard money, or financing. I’ve even assigned my contract to another investor for part cash and then held a second mortgage for the balance. As long as the seller gets their money, then everyone should be happy.
You as the person assigning the contract can be paid from the loan proceeds if the buyer is financing the deal. It’s the same as being paid in cash because you are getting a check at settlment, typically directly from the title company.
What contract do I use when I assign? Do I need a broker or agent? I would like to cut the middle person and do it myself. I have not made deals. I’m still learning all I can before I make my first deal. Thanks. Jacque1 newbie