re: Assignment of Contract

[Edwin W.]

Hi,

I want to know if you can do an assignment of contract without the buyer and seller knowing how much you're going to make? Is there a special document for it?

Edwin

[Kyle J.]

If you just simply assign the contract, they're going to see what your assignment fee is.  There isn't a "special document" to hide it.  It'll be pretty obvious because the purchase contract is going to have one price on it and then when you assign it to the end buyer it's going to be for a different (higher) price.

What David was referring to by "double close" isn't a document, but rather the process by which you actually close on the property and then essentially re-sell it to the end buyer.  That will make it easier to hide your assignment fee because it won't be disclosed to either the seller or the end buyer, but if they really wanted to know how much you made they could simply look up what it sold for each time.  It's all public record.