So if you are wholesaling, do you have to state in the contract what you will be making as a fee, or do you just automatically get the difference made at closing between the asking price and the price the buyer is paying? thanks, Zach
Are you doing a double close or an assignment?
@Account Closed An assignment, but I was also curious about double closing.
You need an assignment contract that will state to the end buyer what you are making. The seller will only see the seller side HUD. Don't double close in WA unless you want to pay excise tax twice. Also you can use the search funtion to find alot of answers to your questions.
With an assignment you will need for your contract with the seller allowing you to assign the contract and then you will get your buyer to sign a one page Assignment Agreement for your fee. Then the buyer closes directly with the seller and the title company pays you your fee based on the terms of the Assignment Agreement.
hello every one im located in st louis mo and im having hard time locating an investor friendly title company are attorney
Make some calls, there are so many title companies. It is kind of like trying to get a loan, you just have to try a bunch of different companies and eventually you will find one.
@Dan Hoehn , thank you!
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