Real Estate Professional · Atlanta GA · Member since 2015 · 615 posts · 225 votes
10y
@Emmanuel Augustin if your buyer is using a conventional loan then almost totally impossible. the sale would have to go directly from your seller to your buyer and you would basically by cut out. no lender out there will pay out assignment fees on the hud.
Only way to do this with conventional lender is for you to buy the deal and then re sell it. You would almost for sure have to held the deal for a few months at that point.
if your end buyer is using hard money / private funds then the deal will work. because those types of lenders don't have an issue with assignment fees.
Contractor · Chadds Ford, PA · Member since 2015 · 567 posts · 460 votes
10y
@Peter Vekselman You don't think a bank would do it in a double close scenario? In that case there would not be an assignment fee on the HUD1. Or if the buyer paid the assignment fee out of pocket not to be considered in the transaction? I am sure that at that point you run into "are you a broker or not" issues, but I am curious your take.