So basically I am paying the whole seller who found the property 00 for finding the property and assigning the contract to me.
So basically I am paying the whole seller who found the property 00 for finding the property and assigning the contract to me.Tags: How To Write A Self Reflection PaperWebsite Solves Math ProblemsResearch Paper Topics In EconomicsExtended Essay ArgentinaObesity Working ThesisUcla Mba Essays 2012Do My Computer Science Homework
It does not lock you into assigning to a third party.
Honesty and transparency is always the best policy in all business dealings.
If you think about it, you would already pay a realtor 3% for representing you as your agent.
Either way you are still paying for someone to help facilitate the transaction unless you find the seller yourself.
You cannot get a third party involved in the deal with you.
You also are not able to assign the contract to a third-party for a fee as in the case stated above.To transfer to another person (the assignee) all or some of the rights and responsibilities that another person (the assignor) holds under a contract.For example, a tenant may assign his lease to another person, who then has the right to live in the rental and the obligation to honor all terms of the lease.By adding “ and or assigns ” after your name as the buyer, you now have the rights to lease, rent, repair, assign, or sell the property for profit.You can even go through with the purchase as originally intended with you is the buyer and not do any assigning.If you find a property that a sellers willing to sell the property for 0,000, you turn around and market it for sale to an investor for 0,000, the difference is yours as an assignment fee.Depending on what the buyer and seller agree with you is an adequate assignment the, you could make a lot of money.It is not uncommon for wholesalers to make anywhere from 00-00 on an assignment of a contract to an investor.So if I see a property I want to buy as a rental, I run all my numbers first to make sure it will be a good investment and subtract the assignment fee.Obviously I like to spend as little money as possible on a property but without this wholesaler assigning the contract to me, I would not have found this terrific property.When you enter into a contract without “ and or assigns ” your only option is for you to purchase the property as the contract states.