Questions On Wholesaling a Deal

Bird Dogs, Wholesaling
1

Hi,

I am a new investor and wanted to know if I need an attorney to represent me at doing title work and closing for an assignment deal? I called up a local attorney and he told me that in assigment of contract, the seller will pay for the attorney fee since i am like helping the seller with the deal and then assigning it over. Is it correct ? I am confused if I need a lawyer to represent me or seller? Does the seller get his own attorney?Who pays for this in a assignment deal?

Thank you in advance for your assistance.

2

yes and no

3

Can you please explain what do you mean by yes and no?

4

if you want to do a tittle search then you can just use an agent. No need for an attorney

5

Hi, I’m new to these forums and real estate investing for that matter but I think I can shed some light on this subject. I am sure more experienced investor will correct me if I’m mistaken.

Once you sign over your interest/rights to the contract to another investor you are done. Notify the seller that you have assigned his contract to another in a seemless (to the seller) transaction and that you no longer hold interest in the property. Make sure he understands that the only thing concerning his contract with you that has changed is name of the buyer. Everything else remains the same.