I have a question. I have listing and a buyer who is an investor has contacted me and wants to give an offer. They would like to add an assignment fee to the offer and receive the cash back at the table. I have never done this before, so could you please explain to me what it is exactly that I need to do in order for this to be done correctly?
Thank you for you help.
Have you talked to your broker for info? I am looking for the same information. If you find anything out, please let me know. My email is in my profile. I don’t think there are many people here in our area.
thanks,
Why would they want to add an assignment fee if the seller is paying you a broker fee?
If they want cash back, the seller can give cash back. If the buyer/investor is using conventional money then there is a limit that most lenders have for givebacks at closing.
I just am not understanding why an investor wants to add an assignment fee and get cash back at closing.
My hinky meter starts going off at the sound of ‘cash back at closing’. Perhaps he didn’t explain his goal adequately…I might be tempted to bring in a Buyers agent to work wth him. Not sure how fiduciary is handled in GA, but I like things being glaringly clear and transparent and it seems you think the same way as I do.
I did work with investors way back when, before kids and life happened, and I did write ‘and/or assigns’ contracts but there was no cash back at closing. Although, back then, letting the second deal fund the first was ‘business as usual’.
Let us know the details as they come about. I love the details. 
I thought she meant that the “investor” is actually the wholesaler wanting to assign the contract and get a check at closing. Is that the way it works?
Yes, Nikki K. I can see it happening that way…It is a little unclear, really. If this is a Wholesaler/Investor, then all he/she needs to do is write in ‘and or assigns’ in the Buyer section, but there is no need to add the provision for an assignment fee to be paid at closing because that would be between the person the Wholesaler assigns the deal to and the Wholesaler. Now that assignment fee could be paid to the Wholesaler by his new buyer at closing, no problem. That is why I was thinking the details weren’t made clear to Atl realtor. I’d love to know the details…