BiggerPockets

I was looking for a title company in my area that will allow investors to get paid assignment fees. I only heard of one title company from the local REIA that I thought I would allow assignments. I called them up and asked about this. They said no assigments. Do you know of any other title companies that will allow assignments at closings in any state? I need an investor friendly title company in Alabama that will allow this to happen.

I'm not sure me and you are talking about the same thing. Nothing of what I am saying has anything to do with lenders, banks, etc. I am talking about a simple wholesale flip where I purchase a house directly from the seller for a certain price usinging a purchase and sale agreement. I then locate another buyer (cash buyer of course) to assign my rights to the property over to that end buyer for a higher selling price with my assignment fee being the difference of what is leftover out of that sale transaction. Example: I purchase house from seller for $25,000. I find another buyer to assign my rights to the property for $35,000 and me getting $10,000 as my assignment fee. See what I mean? No lenders. No banks. No nothing. It's just me, the private seller, and the CA$H end buyer. I will only be doing businesss with cash buyers. If it's not cash involved in this transaction then we will not have a deal.

No title company can tell you that you can not assign a contract so long as that contract allows for it. if it does, it is not up to the title company, so any title company should be fine.

I think what Bill was trying to get across is that your explanation of "assigning the contract" may possibly be misunderstood as a simultaneous closing or something other than what you are trying to do.

I'm confused. You've been given very very very good advice above. Did you notice that collectively they have nearly 14,000 posts?

I bet they fully understand your question.

From my perspective and my protocol when it comes to an assignment fee and only if I were the seller I wouldn't need an escrow/ title company as the fee isn't based on a performance of the buyer. If I were the buyer it most certainly would require the performance of the seller which includes a title insurance policy at transfer. Absolutely a double standard.

I meant me getting home under contract from the seller with a purchase and sale agreement. Then me locating an end buyer to assign my rights to that property over to that end buyer using an assignment agreement. That's what I mean by assigning the contract.

As stated before, so long as your contract does not state that you can not assign the contract, you can and no title company can dispute that.

"I bet they fully understand your question." You sure about that? They didn't act like fully understood my question. Well not at first they didn't but it took me breaking it down for them in a way they can understand for them to get what I was talking about. Like I told the other person I was lucky to find another title company that totally understood what I was talking about without any confusion what so ever. No matter how I reword the terms assigning a contract to something else. They still understand assignments, which is all that matters right now. That is a problem solved.