Updated about 2 years ago on . Most recent reply
Double Close Transactional Funding
Hey BP'ers,
We have always used transactional funding for our "frontside" contracts ensuring we don't need to assign a contract or use the and/or assigns verbiage on the contract. We have always felt that it shows a stronger offer if we do intend to wholesale it instead of keep or flip the property.
Now as a lender we offer this service to wholesalers - however I find the large majority of you still assign.
What is the general consensus of states such as Oklahoma, Illinois, New Jersey etc. changing the legislation to make it harder to assign contracts? How have you circumvented this, and what will you plan on doing in the future if assignments are still your chosen method?
Likewise, if you are wholesaling in this states and you are not licensed - how to you intend to continue?