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Updated about 17 years ago on . Most recent reply

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619
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75
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Terry Royce
  • Real Estate Investor
  • Baltimore, MD
75
Votes |
619
Posts

Huge Assignment Fees

Terry Royce
  • Real Estate Investor
  • Baltimore, MD
Posted

I am looking at a property asking price is 225k, repairs 120-140k. ARV 750-850k.

From rough numbers 800k x .65 - 140 repairs = 380k max offer. I was thinking about just tacking on a 25k assignment fee (250k assignment price), but my questions is if I decide to go even bigger here should I double close or no? When do you decide to double close, and how much of a depo do you get upfront to ensure you dont get stuck holding it with a double closing loan.

Thanks

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