I hear alot of wholesale experts talk about how conventional lenders dont want to see an assignment contract. I understand that part, but there is alot of people stating that they wont finance the assignment fee also. I dont get it. If I have a property under contract for 100,000 and i have an end-buyer who is willing to take it for 110,000. if i have taken the role of the seller how come i cant sell it for 110,000 and have them get the conventional loan for that amount and take in the difference? Their not financing the assignment fee their just financing the cost to purchase that house.
Just do a double close and the seller won’t know what you’re making. No assignment but just a big payday at close for you. Minus expences of course. Herbster
You can definitely do this, however it won’t be an assignment. You have to structure it differently.
One way is to record your interest in the deal and the title company will pay you to release your
interest/lien on the property.
Another would be to have the seller pay you the fee at closing…
But 99% of the time, it won’t happen as an assignment. Assignments are great for people who
will be using cash to buy the house…