I've been reading up on assigning vs. double closing and I'm under the impression that double closing gives one more privacy as to how much is being made on an assignment fee, and can protect from someone going around the "middle man". I understand there's more to double closing like two closing costs, it's also my understanding that those closing costs can be negotiated just as they are when assigning a contract. My question is how is an agreement structured if I decide to partner with another wholesaler and use one of their buyers, is it better to double close, or assign? I would think it would get even more confusing for a seller to see several names and two assignment fees and what not.
I am new to wholesaling but have thought about this before. Here are my thoughts:
I would think it to be a good idea to make a separate contract with your partner pertaining to the contract for the property in question (not the property itself since neither of you is actually "selling" the property – but in fact the contract); so that when they assign that contract, they agree to split the fee with you since you are their aid in finding a seller.
I hope others chime in as well as I am not an expert but have just done a lot of thinking. Best of luck!
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