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Updated almost 11 years ago on . Most recent reply

User Stats

175
Posts
43
Votes
Mike York
  • Investor
  • Valparaiso, IN
43
Votes |
175
Posts

Odd Assignment Fee

Mike York
  • Investor
  • Valparaiso, IN
Posted

Hello BP community!

  I have an interesting deal about to close and I need your advice.  The original contract expired but I have a buyer for the home.  Both the seller and buyer have verbally agreed a price and my 1k fee however, since the original contract has expired, the buyer wants to have the PA go straight through to the seller and the seller pays me what would have been my assignment fee.  Example:  originally home was 34k + 1k fee = 35k.  Now purchase price is 35k and the seller gives me 1k.  I am just a wholesaler so I don't want this to look like commissions.  I was thinking of calling it a consulting fee but any advice would be great.

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