Assignment of contract issues. Kind of tricky and need help
Hello BP,
I have a wholesale deal from a wholesaler in Maryland that I was initially going to purchase for a fix and flip. Another investor I know asked if he could buy it instead and has agreed to pay more for the property so I get a cut for giving him the deal.
So basically its an assignment contract between the owner of the property & the wholesaler. Would I then do another assignment contract between myself and the wholesaler? So that I can then have my buyer, purchase the property from me?
I confused as to how I should complete this deal. I don't want to give the title company 3 or 4 different contracts. I don't know how we go about structuring this deal. It initially was going to be a property I fixed and flip until another investor asked about buying it from me.
Breakdown:
Contract 1 - Owner & Wholesaler - 80k
Contract 2 - Wholesaler & Myself - 100k
Contract 3 - Myself & End Buyer - 115k
Owner - 80k
Wholesaler - 20k
Myself - 15k
End Buyer - Property