Assignment of contract - fee

5 Replies

Is there a way to assign a contract without the other party knowing your fee? (I don't have a real estate license.) Note: New York State. Thanks BP!

Originally posted by @Mark Bookhagen :
Is there a way to assign a contract without the other party knowing your fee? (I don't have a real estate license.) Note: New York State. Thanks BP!

I feel like I've answered this question a few times this past month. Your buyer needs to know 1) your purchase price and terms in your contract, and 2) what you are selling the contract for.

How would you hide the purchase price from the buyer of the contract. They need to pay you and buy the property from the seller.

I'll preface my response by saying we do not wholesale, so on the couple of occasions where we have assigned an Agreement of Purchase and Sale to a party other than one of our own entities, we made no effort to hide our negotiated purchase price and were very upfront about the fee we would require to assign the contract (6-months of revenue).

Why would you want/need to hide these values?

1(506) 471-4126

Have either of you received any setbacks as far as restrictions on contract assignment?

Originally posted by @Ibrahim S:
@Mark Bookhagen the only way I know is to do a double closing. Even then your buyer will likely know at the closing table when they receive the deed as you buy the property and then resell it to them.

Or do two purchase agreements and two escrows and close the first escrow with transactional funding.

Or close with your own funds or lender funds and then resell.

So many options! :)

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