I have a question when flipping----I would like to know, Do I inform the seller that I will be assigning the contract,for more than the seller accepted?, and do I inform the investor of what the seller accepted if the investor offers me more than what the seller accepted?
I hope that this makes sense of what I am asking.
Howdy Stacie:
There are no rules. It is whatever makes you feel comfortable. If you are just collecting an assignment fee and assigning the contract your buyer will know soon. On several occasions I have told the seller that I could not get the loan but a friend could so I sold it at a slightly higher price. They do not need to know the assignment price. If you tell the sellers anything you may want to wait a while. Showing the property could be difficult if it is owner occupied.
LOL