Assignment of Contract Buyer has FHA Loan
I live here in Denver, but I have properties in Pueblo. I have a problem I’m needing some help with. I have a tenant buyer on a lease option. They are looking to move and have the option to buy at $57,000. They would like me to sell it to one of their family members. It’s their sister. Sale price to sister is $65,000. They would like to pocket the difference after closing costs and my pay off of $57,000. There are no agents involved so no commissions paid out. Can we use some sort of assignment fee to pay them out? I’m seeing if there is a better way then me collecting the full amount, and paying them off on the side. This will cause me to have to pay their taxes. What would you do?
Most Popular Reply
Why not 1099 them?