wholeselling and getting your fees

If laws require you to hold property for 90 days before you sell. Will you be free from this law if you write the contract up with your name and or assigns behind it?

Also if you do this how do you structure in your finders fee?

Howdy Mr Trump:

Man that sounds weird. Yes you can assign most contracts. Where did you get the 90 day hold info? That may be for some lenders but not all and law ? Where? What law?

To get your finders fee you can do a few things:

In the assignment agreement put:

For XXXXX Dollars I hereby assign the contract between … and get a check.

Another way is to do a double closing. You can also assign the contract and agree to get paid at the closing. Same as above but add wordage that states you get paid when the deal closes and not at the assignment.


I’ve never heard of this “Federal law”. Ask the title company to provide you with the statute or source doc. Otherwise, go to another title company. And yes, there are investor friendly title companies out there that should be able to accomodate double-closing.

If I am not mistaken, it is a new law passed in 2003, but only effects FHA loans. As long as the FHA isn’t involved, its not an issue.

I’m a newbie too so take that with a grain of salt, but thats how I understood it.