Assignment or double closing??

I have a house under contract with an owner in Ga. I have found a cash buyer :biggrin. I really don’t won’t the seller to see how much I will be making off the sale of his house. The buyer does have an agent that is working with buyer. I am willing to pay her a 5% commission on what I make… Do attorneys still do one closing in escrow and a back to back closing in cash or would I need to assign the contract? Can you please describe the “how to” complete this transaction for me? Any suggestions highly appreciated!!!

I have the house under contract for 65k. I am selling to an investor for 75k minus the 5% commission. I also do not have cash to complete the closing myself :rolleyes

Just assign the contract to your buyer, Seller agreed to 65K he will sign it.
I have it written in my contract that buyer is using his negotiation skills, money and or time and deserves to profit on the purchase and sale of this property.
I made 15 K on a few deals and I was worried, but they went thru.
I had a buddy that was making 40 Grand on a house, when the old guy owner came it to Title company to sign he seen the spread and freaked out. Seller wudnt sign.
I have one coming up that I’m making 20K I am worried about assigning, but the junk house has fire damage and seller said he just wanted to get rid of it. I offered him 20K and he accepted. My buyer wants it at 20K Got my fingers crossed.

Hmmmm, why are you paying the buyer’s agent commission? If the seller has the property listed with an agent, and you assign the contract, wouldn’t the seller pay the buyer’s commission? If it is not listed, if traditional buyer/seller commission is 6% like in many areas, the buyer’s agent should only get 3% of the sales price.

If you want to keep things confidential, I would recommend a double close. You need to talk to the title company and see if they will handle it. If they are unwilling to wait until the second transaction to get paid, you could use Transitional Funds which is a very short term loan that is paid for off of the fees.

If you did not create a clause in the first purchase agreement which allows you to assign the contract, then you will need to do a double close or find some way to pay for the first closing before completing the second.

I just closed on my first deal buying thru a Realtor, it was listed, and the seller paid his commission. It was a big hassle filling out the 40 page contract. I was hesitant but the Realtor insisted I make an offer. I made some massive profits on this one deal for doing approx. an hour of work and never left my house. I was also surprised I didn’t have to put up an earnest deposit. I’m ready to do some more Realtor deals.
He has agreed to bring me unlisted houses for a flat fee of 4%
The Realtor insisted I use his closing company, I knew my buyer wudnt approve and said no we gotta use XX Title Company. He tells me state law requires him to use his Title company.
I laughed and said, no it don’t.
Let’s make some MONEY…