Updated about 17 years ago on . Most recent reply
Assigning/Birddogging
I have buyers who are looking for specific criteria. If I find properties to meet those needs, how do I present these properties as options? Since I don't know exactly which property they would want, would it be beneficial to have them sign a NCND and contract (birddogging) for my services -or- I just get good deals under contract and if they don't buy it, find another buyer-then I would need earnest money deposits for these larger deals.
Sorry for the long somewhat confusing post, I'm a newbie :oops:
Most Popular Reply
Personally I would be looking at probably $20,000 earnest money deposit on something like that. If they are playing at that level, it should be a drop in the bucket.
Do you have buyers at that level?
Assignment fees vary from market to market but would normally range from $3,000-7,000 on $50,000-$100,000 property.
On an $800,000 property I would be looking at making a significant chunk of profit for me or I wouldn't get involved ($50,000+). You aren't going to be finding many buyers at the level to wholesale it to, so you really need to make sure you know what you are doing before you jump in with something like that.