How do you word and assignment fee on the HUD-1 for it to be acceptable for the lender. Do you word it “professional services” or “negotiation fee”???
Anybody that has had experience with this let me know, the fee is too small to justify a double close.
I haven’t seen where the wholesaler is even on the HUD. We get the fee outside of the transaction, but maybe someone else is doing things differently?
Well he didn’t want to pay until closing and I haven’t given up the contract so I guess if the lender won’t do it then I’ll have the buyer make out a cashiers check for my assignment fee and give it to a neutral third party to hold until close. Only if I can’t get it on the HUD.