I am new here and I really like the idea of locating preforeclosure deals here in Georgia, of course ones that have at least 30% of equity in it but now I am not sure what to do after this point.
I’d prefer not to take ownership of the properties but rather find those “We Buy Houses” signs, call them up, let them know about the property/deal and have them deal with it but give me a fee or commission for finding the preforeclosure and negotiating the sale price.
I am not sure what this method is called and how it is really done. Can anyone shed some light on my idea? Thanks
You are talking about assigning contracts. You want to get the contract on the house and then assign it vs. trying to get a written agreements with all the “we buy houses” investors. The one who has the contract has the control and that’s valuable.
Can one of you please explain how to assign a contract and charge a fee for the assignment?
If I find a deal and want to charge $10k “finder’s fee” to assign it, how would I do it?
The contract has to be assignable, correct? How do you confirm that a contract is assignable?
Isn’t there more costs associated with a double-closing?
An assignment sounds a lot easier, but you would know better.
If I wanted to assign a contract over to someone and increase the price
from $250 to $260 ($10k being my finder’s fee), how would I do that?