Ive contacted homeowners that just want to satisfy the bank 90k The hous is worth 115-130k and have sold for that much. Can i have a purchase agreement signed then go out and market the house as if it were mine. Suppose i come across a conventional buyer can i still get an assignment fe or a locators fe, for that matter.
You don’t need a poll for a question like this. This is not subjective. Yes, you can place a contract on a property in Ohio and then assign the contract to someone else and receive a fee. I am from Ohio and have done it. You need to have a better understanding of the market value - $15K is an unacceptably large range. The only problem that you may have getting an assignment fee is with the buyer’s mortgage company. In my experience, mortgage companies aren’t very creative. I’d suggest referring the buyer to a small local bank that has already agreed to do this type of deal.
what you need is a mortgage broker or two that you work with personally, offering buyers (assignee’s) mortgages to close on these deals.
you also should DEFINITELY have some buyers/investors in mind - if you go about it like, “what if i find a buyer who’s using conventional” - you’re going to screw the pooch.
efficiency is the key here. you can’t go in blind and expect everything to fall in to place. it won’t.
expect the best, PREPARE FOR THE WORST!!!