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Updated over 7 years ago on . Most recent reply presented by

User Stats

127
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23
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Trevor S Foster
  • Gaithersburg, MD
23
Votes |
127
Posts

Assignment of contract issues. Kind of tricky and need help

Trevor S Foster
  • Gaithersburg, MD
Posted

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

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